Rye Brook, NY — November 10th, 2015
Xylem Inc. (NYSE: XYL), a leading global water technology company dedicated to solving the world's most challenging water issues, has acquired HYPACK, Inc. a privately-owned company specializing in hydrographic survey software used in ocean, coastal and surface water applications, for approximately $18 million. News of acquisition was shared in the Company's third quarter earnings announcement. Other terms of the transaction were not disclosed.
Located in Middletown, Connecticut, HYPACK is a leading provider of hydrographic survey data acquisition, processing, and visualization software. Used by government agencies, universities, and consultants, HYPACK products measure and map features in bodies of water in connection with maritime navigation, marine construction, dredging, offshore oil exploration, pipeline surveys, habitat assessments and search & recovery efforts. HYPACK expects to generate revenue of approximately $8.5 million in 2015.
"The addition of HYPACK's premium products and application expertise supports our strategy to acquire attractive businesses that complement our global analytics portfolio, and our continued commitment to provide the best solutions to the tough challenges our customers face every day across the water industry," said Colin Sabol, Xylem's Senior Vice President and President of Analytics and Treatment. "HYPACK's bathymetric products and services, partnered with long-standing customer relationships will further expand our ocean and coastal capabilities. HYPACK will stand proudly next to the ocean and coastal experts from Xylem brands like SonTek, Aanderaa and YSI."
Xylem (XYL) is a leading global water technology provider, enabling customers to transport, treat, test and efficiently use water in public utility, residential and commercial building services, industrial and agricultural settings. The company does business in more than 150 countries through a number of market-leading product brands, and its people bring broad applications expertise with a strong focus on finding local solutions to the world's most challenging water and wastewater problems. Xylem is headquartered in Rye Brook, New York, with 2014 revenues of $3.9 billion and approximately 12,500 employees worldwide. Xylem was named to the Dow Jones Sustainability Index for the last four years for advancing sustainable business practices and solutions worldwide and the Company has satisfied the requirements to be a constituent of the FTSE4Good Index Series each year since 2013.
The name Xylem is derived from classical Greek and is the tissue that transports water in plants, highlighting the engineering efficiency of our water-centric business by linking it with the best water transportation of all – that which occurs in nature. For more information please visit us at www.xyleminc.com.