Baker Hughes has agreed to sell its Waygate Technologies unit to Swedish technology company Hexagon AB for approximately $1.45 billion.

Waygate Technologies, based in Germany, provides testing technologies used to evaluate the structural integrity of materials across various industries. The unit offers inspection solutions that help companies assess the safety and reliability of their equipment and infrastructure.

The transaction represents a significant divestiture for Baker Hughes, the oilfield services company that has been restructuring its portfolio in recent years. The sale will allow Baker Hughes to focus on its core energy services business while providing Hexagon with expanded capabilities in industrial testing and inspection.

Hexagon, known for its measurement and positioning technologies, will integrate Waygate's testing capabilities into its existing portfolio of industrial solutions. The Swedish company has been actively expanding through acquisitions to strengthen its position in digital industrial technologies.

The deal is subject to customary closing conditions and regulatory approvals. Financial terms beyond the purchase price were not disclosed by either company.