Hexagon AB, a worldwide leader in digital reality solutions by combining sensor, software, and autonomous technologies, has revealed that it has signed a final agreement to buy Waygate Technologies from Baker Hughes. Waygate is a leading global provider of non-destructive testing (NDT) solutions, focusing on mission-critical sectors like aerospace automotive energy, and industrial manufacturing.
This strategic buy is a big step for the Hexagon Manufacturing Intelligence (MI) division to change from being only a metrology player to getting into the NDT sector. Hexagon is bringing together Waygate’s top inspection hardware with its own precision measurement tools, CT analysis software, and quality data management platforms, and thus, opening up the way for a complete “inside-out” quality view of a product. With this, quality assurance no longer ends with surface metrology but is extended to the internal structural integrity of the parts.
Strategic Synergies and Value Creation
This is classified by Hexagon as an opportunity for value creation that involves high value. The firm has formulated an explicit plan that aims to improve the profit margins at Waygate by optimizing its production process, localization in China, and revenue synergy with the merged customer base.
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“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.”
