Crane to acquire a precision sensors and instrumentation product line from Baker Hughes for $1.15bn.

Crane, an industrial manufacturing company, agreed to acquire a precision sensors and instrumentation product line from Baker Hughes, an energy technology company, for $1.15bn. “This transaction continues the progress we have made in enhancing our strategic focus on IET’s core competencies of rotating equipment, asset performance management, flow control, and decarbonization to continue to drive higher returns, reinforcing our commitment to long-term value for our shareholders. We believe the value realized in this transaction is a testimony to these product lines’ quality and the potential they can achieve as part of Crane,” Lorenzo Simonelli, Baker Hughes Chairman and CEO.