Operator
Good day, and thank you for standing by. Welcome to the Hexagon presentation on the acquisition of Waygate Technologies Webcast and Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your speaker today, Anders Svensson, President and CEO of Hexagon. Please go ahead.
Anders Svensson
President & CEO
Thank you very much, operator. So we are calling for this presentation to announce that we have agreed to acquire Waygate Technologies from Baker Hughes for a USD 1.45 billion cost. So Waygate is a global NDT business specialized in X-ray, Remote Visual Inspection, Ultrasonic, et cetera, with an annual revenue of approximately USD 630 million and 1,500 employees.
And the [ target ] closing day for this transaction is the second half of 2026. So if we then go to the first slide, so what are we buying? So we are buying the leading NDT platform, nondestructive testing platform. Waygate is #1 in remote visual inspection and #2 in industrial computer tomography. Both are in growing and highly regulated markets. So the entry barrier is quite high.
There’s 130-plus years of heritage, a lot of patented IP and deeply embedded customer relationships within aerospace, defense and advanced manufacturing.
So why are we buying this company? Well, it’s a natural next step for Hexagon. It completes the measurement chain from the surface where we have been always strong with our metrology solutions to also
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