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Baker Hughes Company

Energy Technology and Oilfield ServicesFounded 1987
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Baker Hughes Acquisitions

6

Major Deals Covered

$32.5B

Disclosed Deal Value

What are Baker Hughes's biggest acquisitions?

Baker Hughes's largest disclosed acquisition here is Chart Industries, Inc. for $13.6B in 2026. This page covers 6 major deals from 1990 to 2026, each with its price where disclosed and the reason behind it.

Major deals covered
6
Largest deal
Chart Industries, Inc. ($13.6B)
First deal
1990
Most recent
2026
CompanyYearPricePurpose
Eastman Christensen1990UndisclosedBaker Hughes bought Eastman Christensen to add directional drilling equipment and measurement-while-drilling technology, capabilities it lacked against Schlumberger and Halliburton.
Western Atlas Inc.1998$5.5BBaker Hughes agreed a merger with Western Atlas valued at $5.5 billion in May 1998 to add seismic acquisition, wireline logging and reservoir evaluation, creating what the companies described as the third largest oilfield service firm.
BJ Services Company2010$5.5BBaker Hughes acquired BJ Services in a cash-and-stock transaction valued at $5.5 billion to add pressure pumping, cementing and stimulation capacity for North American unconventional work.
GE Oil and Gas2017$7.4BBaker Hughes combined with GE Oil and Gas to add gas turbines, compressors, pumps, valves and modular LNG systems to an oilfield service portfolio. Baker Hughes holders received a special dividend of $17.50 per share plus 37.5% of the new company; GE held 62.5%.
Continental Disc Corporation2025$540.0MBaker Hughes bought Continental Disc Corporation from investment partnerships managed by Tinicum Incorporated in an all-cash transaction of approximately $540 million to add safety-critical pressure management products.
Chart Industries, Inc.2026$13.6BBaker Hughes agreed on July 29, 2025 to acquire Chart Industries for $210.00 per share in cash, a total enterprise value of $13.6 billion, to expand into thermal management, air and gas handling and cryogenic equipment for LNG, data centre, nuclear and carbon capture markets.
What companies has Baker Hughes bought?
Major acquisitions by Baker Hughes documented here include Chart Industries, Inc. (2026), GE Oil and Gas (2017), BJ Services Company (2010), Western Atlas Inc. (1998) and Continental Disc Corporation (2025).
What is Baker Hughes's most recent acquisition?
The most recent Baker Hughes acquisition documented here is Chart Industries, Inc., in 2026, for $13.6B.

Chart Industries, Inc.

2026

$13.6B

Why

Baker Hughes agreed on July 29, 2025 to acquire Chart Industries for $210.00 per share in cash, a total enterprise value of $13.6 billion, to expand into thermal management, air and gas handling and cryogenic equipment for LNG, data centre, nuclear and carbon capture markets.

Impact

The transaction closed on July 16, 2026. Chart, which reported $4.3 billion of revenue in FY2025 and serves customers in more than 50 countries, became a third reporting segment led by senior vice president Jim Apostolides.

Outcome

Baker Hughes targets $325 million of annualised cost synergies within three years of closing, with commercial synergies identified as further upside.

Source →

Continental Disc Corporation

2025

$540M

Why

Baker Hughes bought Continental Disc Corporation from investment partnerships managed by Tinicum Incorporated in an all-cash transaction of approximately $540 million to add safety-critical pressure management products.

Impact

Completed August 7, 2025 inside IET. Rupture discs, actuators and positioners joined the Flow Control and Safety Solutions product line. The FY2025 Form 10-K records approximately $543 million of cash paid, net of cash acquired.

Outcome

The products sit in Industrial Products, which reported revenue of $1,991M in FY2025.

Source →

GE Oil and Gas

2017

$7.4B

Why

Baker Hughes combined with GE Oil and Gas to add gas turbines, compressors, pumps, valves and modular LNG systems to an oilfield service portfolio. Baker Hughes holders received a special dividend of $17.50 per share plus 37.5% of the new company; GE held 62.5%.

Impact

The deal created the Industrial and Energy Technology segment, which reported revenue of $13,409M and segment EBITDA of $2,482M in FY2025 and carried $32.4B of remaining performance obligations at year end.

Outcome

GE cut its holding to about 38.4% in September 2019 and had no economic interest left as of December 31, 2022. IET is now the growth and margin driver of the company.

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BJ Services Company

2010

$5.5B

Why

Baker Hughes acquired BJ Services in a cash-and-stock transaction valued at $5.5 billion to add pressure pumping, cementing and stimulation capacity for North American unconventional work.

Impact

The transaction closed on April 28, 2010 after the Justice Department required BJ vessel-based stimulation assets in the U.S. Gulf of Mexico to be divested.

Outcome

Pressure pumping now sits inside the Completions, Intervention and Measurements product line, which reported revenue of $3,750M in FY2025.

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Western Atlas Inc.

1998

$5.5B

Why

Baker Hughes agreed a merger with Western Atlas valued at $5.5 billion in May 1998 to add seismic acquisition, wireline logging and reservoir evaluation, creating what the companies described as the third largest oilfield service firm.

Impact

The Western Atlas wireline division became Baker Atlas. Western Geophysical was contributed to the WesternGeco joint venture with Schlumberger in 2000, and Baker Hughes left that venture in 2006.

Outcome

Formation evaluation and wireline remain part of the OFSE portfolio; the seismic side was unwound within eight years.

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Eastman Christensen

1990

Why

Baker Hughes bought Eastman Christensen to add directional drilling equipment and measurement-while-drilling technology, capabilities it lacked against Schlumberger and Halliburton.

Impact

The technology became the basis of the Well Construction product line, which reported revenue of $3,646M in FY2025 and includes the AutoTrak and Lucida rotary steerable systems.

Outcome

Directional drilling remains a core OFSE capability. Published figures for the purchase price differ, so no value is recorded here.

Source →

Baker Hughes Company's Growth & Acquisition Strategy

The strategy is to shift weight from short-cycle oilfield work toward equipment and lifecycle services with longer contracts. Management describes the 2026 to 2028 period as Horizon Two and frames the aim as a more industrialised energy solutions company with a production-oriented mix and more durable cash flow. In practice that has meant buying scale in industrial equipment, with Continental Disc in August 2025 for about $540 million and Chart Industries in July 2026 for $13.6 billion, while selling businesses that do not fit, including Precision Sensors and Instrumentation to Crane Company and surface pressure control into a joint venture with a Cactus, Inc. subsidiary, both closed January 1, 2026. Climate Technology Solutions, covering carbon capture, hydrogen, clean power, geothermal and emissions abatement, is the vehicle for new energy orders and produced $647M of revenue in FY2025. Digital is sold as Cordant asset management software, with FY2025 awards from Yara, CNPC Kunlun Digital and Braskem.

How Baker Hughes Company Makes Money

Baker Hughes sells engineered equipment and the services that keep it running. In Oilfield Services and Equipment it is paid for jobs and projects: directional drilling, drill bits, completions, pressure pumping, artificial lift, oilfield chemicals and subsea production systems, billed well by well or under multi-year frame agreements with national oil companies and majors. That business generated $14,324M of revenue and $2,618M of segment EBITDA in FY2025. In Industrial and Energy Technology it sells gas turbines, centrifugal compressors, pumps, valves and modular LNG trains, then earns long-dated service revenue on the installed base. Gas Technology Equipment produced $6,619M and Gas Technology Services $3,028M in FY2025, and the two carried $11.6B and $16.1B of contracted backlog respectively at year end. Software and sensing, sold as Cordant and Bently Nevada, attach to that hardware. The equipment orders are lumpy and tied to final investment decisions on LNG and gas infrastructure; the service agreements are the steadier half.

Baker Hughes Acquisitions FAQ

Why was the $34.6 billion Halliburton merger abandoned in 2016?

The U.S. Department of Justice sued on April 6, 2016 to block the deal over market concentration, and European regulators had objected as well. The companies terminated the merger agreement on May 1, 2016 and Halliburton paid Baker Hughes the $3.5 billion termination fee by May 4, 2016.

What happened in the 2017 GE Oil and Gas combination?

The combination closed on July 3, 2017, creating Baker Hughes, a GE company. Baker Hughes shareholders received a $17.50 per share special cash dividend and 37.5% of the new company, GE took 62.5%, and the deal added gas turbines, compressors, pumps, valves and LNG systems.

When did Baker Hughes acquire Chart Industries and on what terms?

Baker Hughes agreed on July 29, 2025 to pay $210.00 per share in cash, a total enterprise value of $13.6 billion, and completed the acquisition on July 16, 2026. Chart reported $4.3 billion of FY2025 revenue, serves customers in more than 50 countries, and became a third reporting segment.

What did Baker Hughes buy in Continental Disc Corporation?

Baker Hughes acquired Continental Disc Corporation from investment partnerships managed by Tinicum Incorporated in an all-cash transaction of approximately $540 million, completed on August 7, 2025. Its rupture discs, actuators and positioners joined the Flow Control and Safety Solutions product line within IET.

What did the company acquire in 2023?

The 2025 Form 10-K reports total cash consideration of $301 million, net of cash acquired, for businesses acquired in 2023, consisting primarily of Altus Intervention in the OFSE segment. In the same year the company sold businesses for $293 million, mainly the Nexus Controls business in IET.

What has Baker Hughes divested recently?

On January 1, 2026 it closed the sale of its Precision Sensors and Instrumentation business, carrying the Panametrics, Druck and Reuter-Stokes brands, to Crane Company, and completed a joint venture with a Cactus, Inc. subsidiary holding its surface pressure control business. Both were announced in June 2025.

What was the strategic effect of buying BJ Services in 2010?

The $5.5 billion cash-and-stock acquisition closed on April 28, 2010 and added pressure pumping, cementing and stimulation capacity for North American unconventional work. The Justice Department required divestiture of BJ vessel-based stimulation assets in the U.S. Gulf of Mexico as a condition of clearance.

How does Baker Hughes integrate acquired businesses?

It applies what management calls the Baker Hughes Business System, focused on harmonising product and technology platforms, engineering and commercial practices, and lifecycle and digital services. For Chart Industries the early priorities are supply chain, functional support and manufacturing synergies, with a target of $325 million in annualised cost savings within three years.

Did GE own Baker Hughes?

Yes, General Electric acquired a massive majority stake in Baker Hughes in 2017 to merge it with GE Oil & Gas, but later fully divested its shares after GE faced massive internal financial crises.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.