The company was acquired for approximately $18 million
Xylem Inc. has acquired Hypack Inc. a privately owned company specializing in hydrographic survey software used in ocean, coastal and surface water applications, for approximately $18 million. News of acquisition was shared in the company’s third quarter earnings announcement. Other terms of the transaction were not disclosed.
Located in Middletown, Conn., Hypack is a provider of hydrographic survey data acquisition, processing and visualization software. Used by government agencies, universities, and consultants, the products measure and map features in bodies of water in connection with maritime navigation, marine construction, dredging, offshore oil exploration, pipeline surveys, habitat assessments and search and recovery efforts. Hypack expects to generate revenue of approximately $8.5 million in 2015.
“The addition of Hypack’s premium products and application expertise supports our strategy to acquire attractive businesses that complement our global analytics portfolio, and our continued commitment to provide the best solutions to the tough challenges our customers face every day across the water industry,” said Colin Sabol, Xylem’s senior vice president and president of analytics and treatment. “Hypack’s bathymetric products and services, partnered with long-standing customer relationships will further expand our ocean and coastal capabilities. Hypack will stand proudly next to the ocean and coastal experts from Xylem brands like SonTek, Aanderaa and YSI.”