Badger Meter Acquires SmartCover For $185 Mln To Expand Water Management Solutions

(RTTNews) - 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.