Halma (LSE:HLMA) has agreed to acquire Pyxis, a U.S.-based provider of water quality monitoring and analysis technologies, for an initial consideration of $170 million.

The transaction covers three Pyxis companies and includes potential additional earn-out payments of up to $30 million, subject to performance through March 2029.

Pyxis is forecast to generate revenue of $39 million in the year ending March 2027.

Pyxis to Join Environmental & Analysis Sector

Following completion of the acquisition, Pyxis will operate as a standalone business within Halma’s Environmental & Analysis sector and will continue to be led by its existing management team.

The acquisition will add Pyxis’s real-time water quality monitoring and analysis products to Halma’s existing environmental technology operations. Pyxis provides equipment for industrial, municipal and environmental water applications.

Halma intends to retain Pyxis’s operational autonomy while providing access to the group’s international network and resources.

More About Halma and Pyxis

Halma plc is a global group of technology companies operating across safety, environmental & analysis, and healthcare markets. The company is listed on the London Stock Exchange and is a constituent of the FTSE 100.

Halma employs more than 9,000 people across over 20 countries, with operations in the UK, Europe, the US and Asia Pacific.

Pyxis was founded in 2013 and is headquartered near Houston, Texas. The company develops and manufactures water quality monitoring and analysis technologies, including sensors, handheld devices and connected monitoring systems used across industrial, municipal and environmental water applications.