Xylem Buys Australia’s MultiTrode for About $26 Million

Xylem Inc. (XYL), the water company spun off by ITT Corp., acquired closely held MultiTrode Pty Ltd. of Australia for about $26 million to expand monitoring and control services.

MultiTrode helps water and wastewater companies cut operating costs by reducing energy consumption, failures and overflows, White Plains, New York-based Xylem said in a statement today.

MultiTrode, founded in 1986, has about 60 employees and offices in Australia, the U.S. and U.K., Xylem said.

To contact the editor responsible for this story: Tina Davis at tinadavis@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.