11:02 AM EDT, 06/09/2025 (MT Newswires) -- Baker Hughes ( BKR ) said Monday that it will sell its precision sensors and instrumentation product line to Crane (CR) for $1.15 billion as part of its efforts to optimize its portfolio for better returns.

The deal, which requires regulatory approvals, is anticipated to complete at the end of 2025 or early next year. The sale covers brands behind technologies that detect and analyze pressure, flow, gas, moisture and radiation across various industries, Baker Hughes ( BKR ) said.

The precision sensors and instrumentation business is part of Baker Hughes' ( BKR ) industrial and energy technology segment.

"This transaction continues the progress we have made in enhancing our strategic focus on (the industrial and energy technology's) core competencies of rotating equipment, asset performance management, flow control, and decarbonization to continue to drive higher returns," Baker Hughes ( BKR ) Chief Executive Lorenzo Simonelli said in a statement.

Crane, which manufactures engineered components for the aerospace, defense, space and process industries, valued the deal at $1.06 billion "after adjusting for expected tax benefits with an estimated net present value of approximately $90 million," according to a separate statement.

Crane said the acquired brands strengthen its pressure sensing capabilities, as well as the nuclear business. The precision sensors and instrumentation product line is expected to generate $390 million in sales this year, it said.

The businesses to be acquired are "a perfect fit with Crane's existing portfolio, enhancing our product portfolio and technology capabilities in key target markets including aerospace and defense, nuclear, industrial process sensing, and water and wastewater," Crane CEO Max Mitchell said in the statement.

Shares of Crane were up 1.1% intraday Monday, while those of Baker Hughes ( BKR ) were flat.

Price: 37.94, Change: +0.04, Percent Change: +0.09