Xylem Inc. (NYSE: XYL), a leading global water technology company focused on addressing the world’s most challenging water issues, announced today that it has acquired MultiTrode Pty Ltd, a privately held Australia-based water and wastewater technology and services company, for approximately $26 million. The actual terms of the transaction were not disclosed.
With its advanced monitoring and control technologies, MultiTrode helps municipal and private water and wastewater authorities realize significant savings on operating costs – reducing energy consumption, call-outs, failures, and overflows. MultiTrode’s technology and services portfolio includes pump station controllers and supervisors, level-sensing devices, web-based monitoring services, Supervisory Control and Data Acquisition (SCADA) software, panels, and engineering and integration services.
“As a standalone water company, an essential part of Xylem’s growth strategy is to acquire companies that complement our own technology and geographic presence to better meet the evolving needs of our customers,” said Gretchen McClain, Xylem's president and chief executive officer. “MultiTrode’s state-of-the-art and scalable platform builds on Xylem’s robust monitoring and control capability and will enable us to commercialize future products for the water and wastewater markets more quickly. By combining the insights gained through Xylem’s industry-leading installed base with MultiTrode’s technology, we will further position Xylem as a trusted source to solve our customers’ dynamic challenges through the efficient delivery of advanced monitoring and control capabilities.”
Based in Brisbane, MultiTrode Pty Ltd was founded in 1986 and has approximately 60 employees. With additional offices in the U.S. and the U.K., the company has extensive distribution channels throughout the world and recorded sales of approximately $13 million in fiscal 2012. Water authorities in more than 20 countries rely upon MultiTrode's solutions to control and optimize some of the largest pump and lift stations in the world.About Xylem Xylem (XYL) is a leading global water technology provider, enabling customers to transport, treat, test and efficiently use water in public utility, residential and commercial building services, industrial and agricultural settings. The company does business in more than 150 countries through a number of market-leading product brands, and its people bring broad applications expertise with a strong focus on finding local solutions to the world’s most challenging water and wastewater problems. Xylem is headquartered in White Plains, N.Y., with 2012 revenues of $3.8 billion and approximately 12,700 employees worldwide.
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