Brown Deer-based
Badger Meter Inc. has acquired
s::can GmbH, a Vienna, Austria-based provider of water quality monitoring systems.
s::can was founded in 1999 and had around $15 million in revenue last year. The company specializes in optical water quality sensing solutions that provide real-time measurement of a variety of parameters in water and wastewater utilizing in-line monitoring systems.
Ken Bockhorst, chairman, president and chief executive officer of Badger Meter, said the company hopes to make the acquisition the first of several as it expands its focus on "smart water."
“Even during these unprecedented times, we continue to execute on our growth strategies, including pursuing strategic and accretive acquisitions,” Bockhorst said. “Water quality is a growing concern across the globe. We believe adding s::can and their expertise in real-time water quality monitoring to the trusted Badger Meter portfolio is of tremendous strategic value to our customers. Just as water utility billing moved from manual reads to Advanced Metering Infrastructure (AMI), water quality monitoring is moving from lab sample testing to online, real-time collection, monitoring and reporting.”
Badger Meter paid a cash purchase price of €27 million, or around $31.6 million.
