WASHINGTON (dpa-AFX) - Badger Meter, Inc. (BMI) Friday announced that it has acquired SmartCover from XPV Water Partners for $185 million, strengthening its position in real-time water infrastructure monitoring.
The deal, funded with available cash, enhances Badger Meter's BlueEdge suite by adding sewer line and lift station monitoring capabilities.
With this acquisition, Badger Meter gains a foothold in the growing stormwater management sector, which is in its early adoption phase in North America.
BMI is currently trading premarket at $208.58 up 0.03 percent or $0.07 on the New York Stock Exchange.
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