Badger Meter Inc. will acquire D-Flow Technology AB of Lule, Sweden for $23 million in cash, the Brown Deer-based company announced Wednesday. <\/p>\n
Badger Meter Inc.s headquarters in Brown Deer. <\/p>\n
D-Flow Technology designs and manufacturers integrated circuits and transducers and specializes in ultrasonic technology. The company has 13 employees and $2.5 million in sales last year. The deal is expected to close May 1. <\/p>\n
There is a growing acceptance of ultrasonic technology within the municipal water market. We believe the D-Flow Technology will strengthen our position in ultrasonic flow measurement by enabling us to further enhance our existing E-Series Ultrasonic product line, lower production costs and provide a platform for the continuing advancement of our ultrasonic capabilities, said Richard Meeusen, Badger Meter chairman, president and chief executive officer. <\/p>\n
Meeusen said D-Flows research and development work would stay in Sweden while production would come to Badger Meters Milwaukee-area and Mexican facilities. He said the deal is similar to Badger Meters 2013 acquisition of Aquacue Inc., which allowed the company to bolster its cellular technology. <\/p>\n
Weve been looking for a way to beef up our ultrasonic technology, Meeusen said, noting Badger Meter found it difficult to hire enough talent to accomplish the goal or to partner with another firm. <\/p>\n
D-Flow currently makes some of the technology used by Badger Meters competitors. Meeusen said he initially sought to establish an exclusive licensing agreement with D-Flow, but the company wasnt open to the idea. He said the acquisition will allow Badger Meter to control D-Flows future development while also bolstering Badger Meters ultrasonic capabilities. <\/p>\n
Badger Meter Inc. will acquire D-Flow Technology AB of Lule, Sweden for $23 million in cash, the Brown Deer-based company announced Wednesday. <\/p>\n
Badger Meter Inc.s headquarters in Brown Deer. <\/p>\n
D-Flow Technology designs and manufacturers integrated circuits and transducers and specializes in ultrasonic technology. The company has 13 employees and $2.5 million in sales last year. The deal is expected to close May 1. <\/p>\n
There is a growing acceptance of ultrasonic technology within the municipal water market. We believe the D-Flow Technology will strengthen our position in ultrasonic flow measurement by enabling us to further enhance our existing E-Series Ultrasonic product line, lower production costs and provide a platform for the continuing advancement of our ultrasonic capabilities, said Richard Meeusen, Badger Meter chairman, president and chief executive officer. <\/p>\n
Meeusen said D-Flows research and development work would stay in Sweden while production would come to Badger Meters Milwaukee-area and Mexican facilities. He said the deal is similar to Badger Meters 2013 acquisition of Aquacue Inc., which allowed the company to bolster its cellular technology. <\/p>\n
Weve been looking for a way to beef up our ultrasonic technology, Meeusen said, noting Badger Meter found it difficult to hire enough talent to accomplish the goal or to partner with another firm. <\/p>\n
D-Flow currently makes some of the technology used by Badger Meters competitors. Meeusen said he initially sought to establish an exclusive licensing agreement with D-Flow, but the company wasnt open to the idea. He said the acquisition will allow Badger Meter to control D-Flows future development while also bolstering Badger Meters ultrasonic capabilities. <\/p>\n
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Badger Meter to acquire Swedish technology firm - BizTimes.com (Milwaukee)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Badger Meter Inc. Continue reading