Water technology business Xylem has acquired diagnostic and analytics solutions firm Pure for $397 million (£297m).
Xylem CEO Patrick Decker said the acquisition would strengthen the company’s position as a “leading provider of intelligent solutions that address the water industry’s most persistent problems”.
Decker said: “Aging infrastructure is a top concern of water utilities around the world, and infrastructure assessment is an attractive, growing market that directly addresses this challenge in a cost-effective way. Pure’s solutions strongly complement the broader Xylem portfolio, particularly our recently acquired Visenti and Sensus solutions, creating a unique and disruptive platform of diagnostic, analytics and optimisation solutions for clean and wastewater networks.”
Decker added that the acquisition would bring greater scale to Xylem’s data analytics and software-as-a-service capabilities. He said: “As one company, we will provide customers with even more powerful and innovative solutions enabled by cutting-edge technologies.”
Pure’s board of directors, which holds 12% of the company’s shares, has unanimously approved the acquisition and recommends that Pure shareholders vote in favour of the transaction.
The merger follows Xylem and Pure entering into an exclusive commercial partnership earlier this year, in which Xylem represents Pure’s products and services in parts of the Middle East, India and Southeast Asia.
Pure provides leak detection and condition assessment solutions for water and wastewater distribution networks.
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