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Badger Meter (BMI) Boosts Smart Water Offerings With ATi Buyout

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Zacks Equity Research
·3 min read
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Badger Meter, Inc. BMI has acquired privately-held Analytical Technology, Inc. (“ATi”) for $44 million in cash.

Founded in 1992 and headquartered in Collegeville, PA, ATi is a leading provider and innovator of water quality monitoring solutions, as well as toxic and combustible gas detectors for municipal and industrial markets.

Milwaukee, WI-based Badger Meter is a global provider of industry-leading water solutions encompassing flow measurement, quality and other system parameters.

ATi specializes in the manufacture and distribution of water quality instruments based on electrochemical and optical sensors. Its technology is also used to detect toxic gasses used in water treatment and other applications.

ATi’s solutions, which generated revenues of about $22 million in 2020, are deployed primarily in the United States and Europe. It offers configurable and low-power multi-parameter water monitoring solutions that can be used in a range of applications where monitoring is required.

In November 2020, Badger Meter acquired s::can GmbH, a leading provider of water quality monitoring systems, for €27 million.

Notably, Badger Meter’s strong cash generation and balance sheet allow it to execute its capital allocation strategy. This includes investments to grow its business organically and through acquisitions.

The combination of ATi’s electrochemical sensors and s::can’s optical water quality monitoring instruments provides Badger Meter with a comprehensive water quality monitoring solution.

Badger Meter continues to expand its smart water offerings by integrating advanced technologies in instrumentation. This is likely to enhance the scope of valuable data for use by utilities and industrial customers.

With its industry-leading ORION Cellular endpoints, along with communication and software technologies, Badger Meter is focused on creating robust digital solutions to operationalize real-time data into actionable insights.

Shares of Badger Meter have gained 65% in the past year compared with 10.3% growth of the industry.



The stock currently has a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader industry are SensataTechnologies ST, Corning GLW and Qualcomm QCOM, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Sensata delivered a trailing four-quarter positive earnings surprise of 6.7%, on average. The company’s earnings beat the Zacks Consensus Estimate in three of the last four quarters.

Corning delivered a trailing four-quarter positive earnings surprise of 40.7%, on average.

Qualcomm delivered a trailing four-quarter positive earnings surprise of 17.3%, on average.

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