European investment group EQT is acquiring Innovyze, a U.S.-based software developer for smart water infrastructure modeling, from Stantec Inc. (NYSE: STN). The cross-border deal is valued at approximately $270 million and EQT is using capital from its EQT Mid Market US fund to finance the purchase.

Innovyze, formed in 1996, is a global software provider of business analytics and performance monitoring for the wet infrastructure industry. The target offers water-focused products that cover the full infrastructure lifecycle for government agencies and engineering organizations. The target is headquartered in Broomfield, Colorado and has offices in California, the U.K. and Australia.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.