Hexagon AB announced that it has signed a definitive agreement to acquire Waygate Technologies, a leading provider of non-destructive testing solutions, from Baker Hughes. Waygate Technologies serves customers across aerospace, automotive, energy, and industrial manufacturing sectors globally, and brings with it a portfolio of market-leading inspection technologies that integrate naturally with Hexagon's existing precision measurement hardware, CT analysis and visualisation software, and production quality and data management platforms.

The acquisition marks a significant expansion of Hexagon's Manufacturing Intelligence (MI) Business Area into the NDT market, a space Hexagon views as a natural evolution of its core precision measurement capabilities, extending quality assurance from the surface of a component to its interior geometry. Alongside the attractive expansionary market opportunity and the strategic fit, the transaction represents a compelling value creation opportunity, with a clear pathway to materially improve Waygate's margins through strategic actions, manufacturing optimisation, China localisation, and revenue synergies across the combined customer base.

"This acquisition is a natural and exciting evolution of Hexagon Manufacturing Intelligence's strategy," said Anders Svensson, President and CEO of Hexagon. "Waygate Technologies brings world-class inspection technology and deeply loyal customer relationships in markets that are highly complementary to our own. By combining Waygate's NDT expertise with Hexagon's precision measurement portfolio, software capabilities, and global infrastructure, we will create a uniquely integrated offering that helps our customers achieve higher quality, greater efficiency, and improved confidence across the full product lifecycle. We also see a significant opportunity to create value by applying Hexagon's operating model, which is built on driving closeness to customers via accountability and strong performance management, to Waygate's businesses and driving meaningful margin improvement over the medium term. I look forward to welcoming the Waygate team to Hexagon and working together to drive future profitable growth."