From Yahoo Finance: 2025-06-09 09:00:00

Baker Hughes sells its precision sensors and instrumentation (PSI) product line to Crane for $1.15 billion, optimizing its portfolio amid the global energy transition. CEO Lorenzo Simonelli is reshaping the company by shedding non-core assets and investing in cleaner energy solutions to boost earnings and cash flow durability.

The sale of the PSI unit, including brands like Druck and Reuter-Stokes, allows Baker Hughes to focus on high-growth areas. Crane, focusing on engineered products with higher margins, plans to strengthen its pressure sensing equipment business with Druck’s technology, projecting $390 million in revenue and $60 million in adjusted EBITDA in 2025.

The transaction is expected to close by the end of 2025 or early 2026, as Baker Hughes continues portfolio refinement efforts for sustainability in the oil industry. Crane’s acquisition of the PSI unit aligns with its strategy to enhance its presence in aviation, nuclear, and industrial markets with advanced technology in pressure sensing, radiation detection, and flow measurement.



Read more at Yahoo Finance: Baker Hughes to sell sensor unit to Crane for $1.15 billion