Hexagon, SE0015961909

Hexagon stock completes Waygate deal to expand industrial inspection

Published on 11/02/2026 at 15:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Hexagon stock now includes Waygate Technologies after the acquisition from Baker Hughes closed. The deal expands its industrial inspection portfolio.

Hexagon expands industrial inspection

Hexagon completed its acquisition of Waygate Technologies from Baker Hughes on November 2, 2026.
Waygate adds non-destructive testing, imaging and maintenance, repair and operations capabilities to Manufacturing Intelligence.
Management plans to lift Waygate's margins toward a 21% to 24% EBITAC target range.

Hexagon, SE0015961909, Illustration mit AI erstellt.

Hexagon announced on Monday, November 2, 2026, that it had completed the acquisition of Waygate Technologies from Baker Hughes. The PRNewswire report said Waygate will be consolidated from November 1 and will operate within Hexagon's Manufacturing Intelligence business area.

What the acquisition adds

Waygate supplies industrial radiography, computed tomography, remote visual inspection, ultrasonic testing and imaging solutions for non-destructive testing. The business has approximately 1,500 employees across 25 locations and generated approximately 630 million US dollars in fiscal 2025 revenue.

The transaction extends Hexagon's offering into non-destructive testing and the maintenance, repair and operations market. Combining Waygate's computed tomography systems with Hexagon's Volume Graphics software and metrology portfolio is intended to create an end-to-end inspection and quality proposition across the product lifecycle.

Integration and financial frame

On a fiscal 2025 pro forma basis, Waygate reduces the Manufacturing Intelligence margin by approximately 300 basis points and the group margin by approximately 150 basis points. Hexagon aims to lift the business toward a 21% to 24% EBITAC margin through its operating model, localized manufacturing, cross-selling and potential portfolio optimization.

The enterprise value is approximately 1.45 billion US dollars on a cash-free and debt-free basis. Hexagon is financing the cash consideration with cash and existing debt facilities, while estimating transaction, carve-out and integration costs of approximately 50 million euros.