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Xylem Buys Australia’s MultiTrode for About $26 Million

March 1 (Bloomberg) -- Xylem Inc., 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.

Link to Statement:{NSN MIZEQ03V2807 <GO>}

Link to Company News:{ITT US <Equity> CN <GO>} Link to Company News:{XYL US <Equity> CN <GO>}

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

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