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 firm Baker Hughes said on Tuesday it would buy Chart Industries in a $13.6 billion all-cash deal, including debt, topping a previously-agreed merger offer that Chart struck with rival Flowserve last month.

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.