South Bend Tech Company Acquired
Financial terms of Xylem's acquisition of EmNet were not disclosed.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA South Bend-based company focusing on water and wastewater management technology is under new ownership. EmNet LLC has been acquired by global water technology company Xylem Inc. (NYSE: XYL) in New York. Financial terms of the deal were not disclosed.
EmNet specializes in real time decision support systems, or RT-DSS, which it says was developed in an effort to solve challenges in watershed and collection systems. The company was launched in 2004 as part of a collaborative partnership between the city of South Bend and the University of Notre Dame.
Patrick Decker, chief executive officer of Xylem, says the acquisition is important "because it significantly increases our ability to help customers manage their wastewater network and stormwater systems, areas of growing concern. Cities and utilities around the world are trying to effectively manage the challenges of aging infrastructure with limited resources. EmNet is leveraging technology to provide more effective solutions that actually improve their customers’ overall economics.”
The city of South Bend has been the beta client for EmNet as it developed its RT-DSS platform. South Bend Mayor Pete Buttigieg says the company has been a "shining example of city government and tech firms collaborating to find solutions." He calls the company a "true success story."
Xylem did not say whether any jobs would be affected by the acquisition.