Xylem to boost smart water platform with new acquisition.
NYSE-listed Xylem has announced the close of its $400 million purchase of Canadian leak detection specialist Pure Technologies - and the simultaneous acquisition of sewer and stormwater analytics start-up EmNet.
Pure and EmNet will be combined with Xylem's existing software and analytics businesses Visenti and Hypack to form a new Advanced Infrastructure Solutions business unit, which will be headed by current vice president of strategy and business development Al Cho.
First formed as a partnership between the City of South Bend, Indiana and the University of Notre Dame, EmNet has developed network modelling and optimisation solutions which will be a "pivotal addition" to Xylem's existing smart water portfolio, according to CEO Patrick Decker.
Xylem's digital strategy is proving a significant factor in the company's strong year-on-year growth - in today's full-year earnings announcement, the firm projects revenues could be as high as $5.2 billion in 2018, up 6% organically on last year.
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|Publication:||Utilities Middle East|
|Date:||Feb 4, 2018|
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