- Xylem (NYSE:XYL) agrees to acquire smart meter company Sensus for ~$1.7B in cash, confirming an earlier report.
- Sensus, owned by investment funds affiliated with Jordan Co. and GS Capital Partners 2000, provides smart meters, network technologies and data analytics services for the water, electric and gas industries.
- Sensus generated $837M in FY 2016 (ended March 31), and XYL expects the deal to be accretive to earnings in 2017.