Aquacue, a US-based software company providing wireless metering technology backed by Denmark-based industrial group Grundfos, has exited to New York-listed trade buyer Badger Meter for an undisclosed amount. In September 2011, Grundfos opened a water technology centre in California, US, having earlier in the year added an observer to Aquacue’s board. Jeff Barnes, partner at Clean Pacific Ventures, said on the Global Corporate Venturing LinkedIn group he was “pleased to announce our first closed liquidity event. “As an active board member [of Aquacue], it is satisfying to see a successful transaction like this one and know that there are many synergies to be gained with the combination along with being pleased working with the Aquacue team, Badger Meter and professional service providers for an efficient closing. “ In addition to this sale, we expect two to three more liquidity events within the next three to 18 months, while the rest of the portfolio is also performing admirably. We are looking forward to launching our next fund and collaborating with more corporate VC groups.” Clean Pacific’s other portfolio companies with a corporate venturing backer includes: HydroNovation — 3M New Ventures group; Clean Power Finance — Google and a top-10 US utility holding company; and Marrone Bio Innovations — Syngenta Ventures and Mitsui.
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Badger buys Aquacue
May 5, 2013 • Global Corporate Venturing
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