Deals
Xylem to Buy Sensus for $1.7 Billion to Add Meter Services
- Sensus products estimated to grow at faster pace than Xylem’s
- Purchase provides opportunities in gas, eletricity markets
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Xylem Inc., a maker of wastewater and water treatment systems, agreed to acquire Sensus for about $1.7 billion to add faster-growing data and metering services to its portfolio.
The deal gives access to Sensus’s more than 80 million smart meters, which serve the gas, electric and water industries, Xylem said in a statement Monday. The companies complement each other geographically: the U.S. accounted for 67 percent of Sensus revenue in its past fiscal year and 41 percent of sales for Rye Brook, New York-based Xylem.