Aliaxis SA announces the acquisition of Aquarius Spectrum, a provider of advanced acoustic water leak detection and pipe condition assessment solutions for water infrastructure. Aquarius Spectrum will be part of Aliaxis Next, Aliaxis’ newly created division which develops adjacent businesses in the field of water management and preservation.
The revenues of Aquarius Spectrum are under €5 million a year, with a strong growth potential. The financial details of this agreement will not be disclosed.
With this acquisition, Aliaxis further strengthens its solutions base to tackle the world’s major water-related challenges such as sustainable water management, resilient water infrastructure, access to water, and water for food. Aquarius Spectrum, an Israel-based technology company, has developed ground-breaking systems that proactively monitor water distribution networks. Throughout the world, Aquarius Spectrum sells leak detection technology which leverages acoustic sensors and sophisticated analysis engines to detect water leaks and pinpoint their exact location. To date, Aquarius Spectrum technology has saved close to 8 billion litres of water, which is the equivalent of 3,200 Olympic swimming pools.
Eric Olsen, CEO of Aliaxis says: “Water is central to who we are at Aliaxis. Our pipes and fittings systems help preserve and supply water. We know that due to aging water infrastructure, 35% of transported water in the world is lost through hidden leakages that remain impossible to repair. Aquarius Spectrum’s state-of-the-art technology significantly reduces water losses and proactively monitors for future leakages in both new and aging infrastructure.”
Fredrik Östbye, Head of Aliaxis Next says: “I want to wish a warm welcome to the Aquarius Spectrum team, who has developed very promising leak detection technology. They have demonstrated their entrepreneurial and business capabilities. We’re very excited to build on their technology, so we can jointly scale up to more accurately detect and fix water leaks. Together we will continue to work to preserve the world’s water resources”.
