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 email@example.com