Baker Hughes closes $1.45B sale of Waygate to Hexagon
- Baker Hughes (NASDAQ:BKR) completed the divestiture of its Waygate Technologies business to Hexagon for ~$1.45B in cash, a move intended to bolster the energy service provider's balance sheet and enhance cash flow predictability.
- The sale encompasses Waygate Technologies’ remote visual inspection, ultrasound, radiography, and imaging solutions portfolios, and all assets of the business, including intellectual property, footprint, and resources.
- This divestiture reinforces Baker Hughes' (BKR) commitment to disciplined portfolio management, enhances the durability of earnings and cash flow, and further strengthens the oil and gas service provider's balance sheet.
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