Mueller Water Products, Inc. (MWA) Acquires i2O Water for $20M in Cash
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Mueller Water Products, Inc. (NYSE: MWA) today announced that it has acquired i2O Water Ltd (“i2O Water”), a provider of pressure management solutions for approximately $20 million in cash.
i2O Water delivers intelligent water networks to more than 100 water companies in over 45 countries around the world to reduce water loss by providing solutions that enable clients to instrument, analyze and control water networks to reduce leakage, lower energy consumption and improve supply. Founded in 2005, i2O Water is headquartered in Southampton, UK, with operations in Malaysia and Colombia. i2O Water provides a range of market-leading intelligent water network solutions including Advanced Pressure Management, Network Analytics, Event Management, Data Logging and the iNet software suite.
The acquisition of i2O Water enhances Mueller's ability to accelerate its software offerings. i2O’s intelligent network solutions are complementary to both Sentryx™, Mueller’s digital services platform, and existing Mueller technology-enabled products used for metering, leak detection, pipe condition assessment and water quality. Additionally, Mueller plans to introduce i2O’s products and solutions in North America, where i2O currently has no presence.
“Our digital transformation strategy is focused on enabling water utilities to effectively monitor and manage their infrastructure networks,” said Scott Hall, President and CEO of Mueller Water Products. “i2O’s Pressure Management solutions, analytics and deep technology expertise will help expand our ability to provide products and solutions that support the resiliency and sustainability needs of our customers.”
Following the close of the transaction, i2O Water will become part of Mueller Water Products’ Technologies segment. Mueller management will discuss the acquisition in more detail during its third quarter fiscal 2021 financial results conference call.
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