Sensus Metering Systems acquires the assets of NexusData

RALEIGH, N.C., June 14, 2004 (PRNewswire) — In a strategic move to expand its automated meter reading (AMR) product portfolio to include fixed base solutions, Sensus Metering Systems has purchased certain assets of NexusData Inc.

“We are excited about acquiring the NexusData fixed network AMR system technology,” says Dan Harness, CEO and President of Sensus Metering Systems. “The spread spectrum RF technology of the NexusData system is an excellent synergistic fit with our current RadioRead spread spectrum AMR system. The combination of our mobile RadioRead system and NexusData’s fixed network AMR system will enable Sensus to offer the most robust, migratory RF AMR solution to the water, gas, and electric utility markets.”

This acquisition will provide Sensus with full ownership of a fixed network AMR system for the water, gas and electric utility markets. The acquisition includes plans to employ people from the Nexus Data team to ensure Sensus has continuity with the technology and with customer relationships. Sensus already had an exclusive distribution agreement with NexusData, which was signed in 2001, for the water utility market. This arrangement has already resulted in some successful water utility installations of the NexusData AMR fixed network. The NexusData fixed network AMR system will complement Sensus’ currently popular RadioRead mobile AMR system that has a strong market position in the water utility market. The NexusData product line will also provide Sensus with an AMR solution for the gas utility market with the NexusData gas transponder. Future development will include an electric meter transponder.

“This is a good day for NexusData,” commented Gary MacDowell, President and CEO of NexusData. “The acquisition by Sensus Metering Systems will put the NexusData AMR technology under the direction of a strong business that has long history and deep experience in the AMR and utility metering markets.”

Details of the agreement are not being released. The sale closed on June 8, 2004 and is being financed by the cash flow of Sensus Metering Systems.

About Sensus Metering Systems

The Sensus Metering Systems companies are leading world-class providers of high-value metering and Automatic Meter Reading (AMR) solutions for water, gas, electric, and heat utilities as well as sub-metering entities worldwide. Additional linked businesses include Smith-Blair, Inc. a leading provider of pipe clamp & coupling products for the water, gas, and industrial markets; Sensus Precision Die Casting that produces superior quality die castings; and IMSofTech, a provider of utility billing and enterprise management software. For more information, please visit the company’s web site at www.sensus.com

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