Escondido-based SmartCover Systems Acquired by Badger Meter for $185M

Escondido-based SmartCover Systems Inc. was acquired by Badger Meter Inc. from XPV Water Partners Inc. for $185 million. The all-cash transaction closed on January 31.

SmartCover develops remote monitoring systems for the water and wastewater industries. Its software provides warning against water overflow issues before they occur and can be used in conjunction with a tool that monitors rain levels. The company generated approximately $35 million in revenue last year.

“We hear from our customers with greater frequency that extreme weather events will often cause significant problems for municipal water infrastructure. SmartCover is the market leader in the fast-growing stormwater management space,” said Kenneth Bockhorst, chairman and chief executive of Badger Meter, in a statement.