Water tech firm Xylem nears deal to buy smart-meter provider Sensus: sources

New York

US water technology company Xylem Inc is nearing a deal to acquire Sensus USA Inc, a provider of advanced metering technologies to utilities, for around US$1.7 billion, including debt, according to people familiar with the matter.

The acquisition would make Xylem a major player in the market for smart meters, at a time when regulatory requirements and a drive for savings are pushing both companies and consumers to control their water and energy consumption more tightly.