LONDON: Halma Plc, the global group of life-saving technology companies, announced Wednesday it has agreed to acquire Pyxis, a Texas-based specialist in water quality monitoring and analysis, for an initial cash consideration of $170 million.

The acquisition, funded from Halma’s existing facilities, covers three separate Pyxis companies on a cash- and debt-free basis. The deal also includes additional earn-out payments of up to $30 million for the U.S.-based business, contingent on performance over the two financial years ending March 2028 and 2029.

Founded in 2013 and headquartered near Houston, Pyxis designs and manufactures sensors and systems that allow customers to measure and control critical water parameters in real time across industrial, municipal, and environmental applications. Its technology helps improve process efficiency, reduce waste, and support compliance with increasingly stringent environmental standards.

For the 12 months ending March 31, 2027, Pyxis’ unaudited revenue is forecast at approximately $39 million. The company will operate as a standalone business within Halma’s Environmental & Analysis Sector, retaining its current management team.

“Pyxis is a high-quality business with a strong track record of growth and a clear focus on innovation,” said Marc Ronchetti, Group Chief Executive of Halma. “Its technologies address critical challenges in water quality monitoring with solutions that are highly valued by its customers. Pyxis’ capabilities are complementary to several of our existing companies. We are pleased to welcome Pyxis to Halma and support its continued growth as part of the Group.”

Caibin Xiao, founder and chief innovator of Pyxis, said joining Halma marks an important step for his company.

“Halma’s approach gives us the autonomy to keep doing what we do well, while providing access to a global network, expertise and resources that will help us accelerate our growth,” Xiao said.

Pyxis serves a global customer base and has a strong record of growth and innovation since its founding more than a decade ago. The transaction is expected to close shortly, subject to customary conditions.