Hexagon stock enters integration after Waygate deal closes
Published on 11/09/2026 at 18:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSWaygate changes Hexagon's growth profile
- Hexagon completed the acquisition of Waygate Technologies from Baker Hughes on November 2.
- Waygate broadens Hexagon's Manufacturing Intelligence business into non-destructive testing and maintenance markets.
- Management is targeting margin improvement while the enlarged business carries integration and transaction costs.
Hexagon stock enters a new integration phase after the company completed its acquisition of Waygate Technologies on November 2. Hexagon said the transaction expands its Manufacturing Intelligence business into non-destructive testing and maintenance, repair and operations markets.
Waygate was acquired from Baker Hughes and became part of Hexagon's financial results on November 1. The business supplies industrial radiography, computed tomography, remote visual inspection, ultrasonic testing and imaging solutions. Hexagon said Waygate generated approximately 630 million US dollars in fiscal 2025 revenue and has about 1,500 employees across 25 locations.
Integration sets the next operating test
The combination brings Waygate's inspection systems together with Hexagon's Volume Graphics software and metrology portfolio. That creates a broader offering covering both the external measurement and the internal inspection of components.
Hexagon said the acquisition dilutes the Manufacturing Intelligence margin by approximately 300 basis points and the group margin by approximately 150 basis points on a fiscal 2025 pro forma basis. Management is targeting Waygate's margin toward the division's 21% to 24% EBITAC range through operating-model changes, localized manufacturing, cross-selling and potential portfolio optimization.
The enterprise value is approximately 1.45 billion US dollars. Hexagon estimates transaction, carve-out and integration costs at approximately 50 million euros, while pro forma leverage is approximately 1.4 times net debt to EBITDA based on third-quarter 2026 figures.
Share price remains below prior report
Hexagon stock traded at 9.77 euros on Lang & Schwarz at 18:06 CET on Monday, November 9, 2026. That was 1.01% below the 9.87 euros cited in the October 27 report, a move that clears the one-percent threshold for a separate update but does not by itself establish a cause.
Hexagon AB at a glance
- Company: Hexagon AB
- ISIN: SE0015961909
- Lang & Schwarz price: 9.77 euros on November 9, 2026 at 18:06 CET
- Change versus October 27 report: -1.01% from 9.87 euros
- Sector: Measurement technologies and industrial software
Hexagon's November 2 release says the acquisition marks the start of a new phase for Manufacturing Intelligence. Investors will now focus on integration execution, margin recovery and the extent to which the enlarged inspection portfolio supports cross-selling.
Swedish equities trade within the wider OMXS30 market environment.
