Baker Hughes sells Waygate unit to Hexagon for about $1.45 billion

In Brief

Oilfield services provider Baker Hughes sold its Waygate Technologies unit to Swedish industrial technology group Hexagon ‌for about $1.45 billion in cash, the two companies said on Monday.

The deal comes as Baker Hughes attempts to reshape itself to adapt to the global energy transition, shedding non-core assets while ⁠investing in cleaner energy solutions. Sign up here. Based in Hürth, Germany, Baker Hughes' Waygate unit provides i... [644 chars]