Badger Meter to acquire UDlive for $100M plus contingent consideration

Badger Meter (BMI) signed a definitive agreement to acquire UDlive, a UK-based provider of hardware-enabled software solutions for sewer line monitoring, for $100M, plus contingent consideration. The transaction is expected to close at the end of April 2026. The acquisition, funded by cash on hand, will expand Badger Meter’s presence in the fast-growing sewer line monitoring market and will further strengthen the Company’s BlueEdge suite of water management solutions alongside SmartCover. Together, SmartCover’s significant presence in the U.S. and UDlive’s leadership position in the U.K. combine to create the leading footprint in sewer line monitoring in key global markets. UDlive delivers low-power, easy-to-install, water level sensors at the manhole and pairs them with proprietary visualization and analytics software that provide utilities with continuous, real-time insight into sewer network conditions. Since the company’s launch in 2017, UDlive has established a leading position in sewer line monitoring in the United Kingdom. The value and differentiation of UDlive’s sewer line monitoring technology is evidenced by a 90% tender success rate since inception and routinely high technology assessment scores from utilities and consultants. In fiscal 2026, the company reported $22M of revenue and generated positive operating profit. Together with SmartCover, UDlive will enhance Badger Meter’s range of sewer line monitoring capabilities by offering utilities a comprehensive set of solutions tailored to varying network requirements, deployment environments, and operational objectives. Badger Meter expects to leverage its global commercial footprint to accelerate UDlive’s adoption beyond the U.K. in targeted international markets.