Badger Meter to Expand Leadership Position in Global Sewer Line Monitoring with Acquisition of UDlive
Badger Meter, Inc. (NYSE:BMI) today announced that it has signed a definitive agreement to acquire UDlive Limited ("UDlive"), a UK-based provider of hardware‑enabled software solutions for sewer line monitoring, for $100 million, 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 (ended Feb 28, 2026), the company reported $22 million 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.
The combined portfolio is positioned to benefit from the same secular trends driving SmartCover adoption, including aging infrastructure, increasing regulatory scrutiny, climate‑driven weather variability, and the growing need for cost‑effective, data‑driven approaches to wastewater system management. These trends are accelerating global adoption of sewer line monitoring as utilities seek to improve resilience, reduce overflow events, and optimize capital and operating expenditures.
"UDlive is a strong strategic fit with our BlueEdge portfolio and is a natural addition to SmartCover," said Kenneth C. Bockhorst, Chairman, President and Chief Executive Officer of Badger Meter.
"Together, SmartCover and UDlive will create an industry-leading global portfolio of sewer line monitoring capabilities, offering a range of solutions across a broader set of use cases and geographies, while leveraging the same underlying secular drivers that continue to support long‑term adoption. This acquisition further advances our strategy of providing utilities with hardware‑enabled software solutions that deliver actionable intelligence across the water cycle."
"We are excited to join Badger Meter and become part of a broader platform focused on intelligent water infrastructure," said Philip Bennett, CEO and co-founder of UDlive. "SmartCover and UDlive address complementary aspects of sewer line monitoring, and together we can deliver greater value to utilities seeking remote, reliable and relevant solutions to manage increasingly complex wastewater networks."
Conference Call and Webcast Information
Badger Meter management will hold a conference call to discuss the acquisition and the Company's first quarter 2026 results today, Friday, April 17, 2026 at 10:00 AM Central/11:00 AM Eastern time. A live listen-only webcast and the related presentation will be available on the Events & Presentations section of the Company's investor relations website.
About Badger Meter
With more than a century of water technology innovation, Badger Meter provides comprehensive water management solutions through its BlueEdge® suite. This tailorable portfolio of smart measurement hardware, reliable communications, data visualization and analytics software, and ongoing support and industry expertise gives customers the edge in optimizing their operations and contributing to the sustainable use and protection of the world's most precious resource. For more information, visit www.badgermeter.com.
About UDlive
UDlive provides hardware‑enabled software solutions for sewer line monitoring, delivering mission-critical, continuous, real‑time insight into wastewater networks through low‑power sensors and proprietary analytics. Its solutions help utilities proactively improve visibility, resilience, and operational efficiency across sewer systems amidst evolving regulatory expectations within regulated and resource‑constrained environments.
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Barbara Noverini, CFA
(414) 371-8144
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