Baker Hughes to sell PSI product line to Crane for $1.15B

Baker Hughes (BKR) announced an agreement to sell its Precision Sensors & Instrumentation product line to Crane Company (CR) for a total cash consideration of approximately $1.15B. PSI, part of Baker Hughes’ Industrial & Energy Technology segment, includes the Druck, Panametrics and Reuter-Stokes brands. These brands manufacture instrumentation and sensor-based technologies to detect and analyze pressure, flow, gas, moisture and radiation across various industries. PSI employs approximately 1,600 people across several manufacturing and service facilities globally. The sale encompasses all assets of the business, including intellectual property, footprint and resources. This divestiture, along with the recently announced Surface Pressure Control transaction, is aligned with Baker Hughes’ focus on value-creating portfolio management that enhances the durability of earnings and cash flow and enables the company to reallocate capital toward higher-return opportunities using a strategic and disciplined approach to capital deployment. The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close at the end of 2025 or early 2026.