WWEMA member Xylem Inc. has entered into a definitive agreement to acquire all the issued and outstanding shares of Pure Technologies Ltd. representing an enterprise value of CAD$509 million, or USD$397 million. Pure’s Board of Directors has unanimously approved the transaction and recommends that Pure shareholders vote in favor of the transaction. Pure provides unique diagnostic and analytics solutions and services based on proprietary technologies to address key water and wastewater infrastructure challenges. It is a leader in intelligent leak detection and condition assessment solutions for water distribution networks, a rapidly growing market driven by the increasing adoption of digital solutions to improve utilities’ capital and operating efficiency.
The press release can be found at http://bit.ly/2AM4PVO.