Baker Hughes Co. agreed to buy industrial equipment maker Chart Industries Inc. for about $9.6 billion in cash, expanding the oilfield service giant’s reach into liquefied natural gas, data centers and other technologies.

Oilfield services company Baker Hughes acquisition of Chart Industries should finalize next year. The company declined to comment on potential impacts for either firms' Houston employees.

Oilfield services provider Baker Hughes has reached a deal to acquire equipment manufacturer Chart Industries in an all-cash deal worth $13.6 billion.