Xylem Buys MSP Sensus in $1.7 Billion IoT Play
The deal will move Xylem into the business of real-time monitoring of water and energy consumption, and enable its expansion into Internet of Things markets.
August 16, 2016
Xylem Inc., a leader in global water technology, announced today that it has signed an agreement to acquire Sensus, a leading provider of smart meters, network solutions and advanced data analytics for water, electric and gas industries, for approximately $1.7 billion in cash, according to a joint statement.
The deal will move Xylem into the business of real-time monitoring of water and energy consumption.
Sensus, with product offerings in communication, metrology and software, has more than 80 million smart meters installed globally and utilizes a FlexNet® communications network technology, expected to support many of Xylem’s connected product offerings and enable its expansion into adjacent Internet of Things markets.