Indian multinational company Jain Irrigation Systems Ltd (Jain) has announced that its US subsidiary, Jain Inc, has acquired US-based ETwater, an innovator of cloud-based intelligent irrigation technology and in the forefront of creation of the smart irrigation controller. California-based ETwater is dedicated to helping solve the real-world problem of water scarcity, which makes it a perfect acquisition for Jain.
Terms of the acquisition deal were not disclosed, and the transaction will close shortly after certain customary conditions are met.
Founded in 2002 ETwater is a complete, cloud-based smart irrigation and sprinkler system that does intelligent, automated outdoor watering. ETwater open platform can be integrated into any existing or future building management systems.
ETwater has over a decade of experience working with the country’s largest businesses, municipalities, and communities to reduce and optimize water consumption. The company has a patent to centrally process big data to implement predictive watering schedules based on plant types, soil and slope conditions, and environmental factors.
“We’re very proud of the positive impact on outdoor water conservation we’ve had in the U.S. market,” said Pat McIntyre, CEO ETwater, “and raising awareness to the necessity of irrigating in harmony with nature. Our customers, from Fortune 100 national retailers to conscientious single-family homeowners, entrust us with driving the automation of their water efficiency. We’ve kept their landscapes healthy and beautiful, while eliminating the waste, damages and costs that result from overwatering. The Jain acquisition will expand ETwater efficiencies throughout the U.S. and now worldwide to become a gold standard in sustainable water management globally.”
“Jain is an early leader in the IoT for agriculture. ETwater will improve our position in agriculture and helps us make a bigger impact in reducing water waste in landscape irrigation,” said Aric Olson, President of Jain Irrigation, Inc.
ETwater is Jain’s 7th acquisition so far. Its previous acquisitions include Tera Agro Technologies and the mango-processing division of Parle-Bisleri Pvt. Ltd., both located in India, among others.
“Jain is the technology leader for irrigation monitoring and control and we are thrilled to have ETwater join our family. After several successful irrigation technology acquisitions, the addition of ETwater, the pioneer of Smart Irrigation control, adds key technologies that can be deployed globally to our growing technology customer base. I’m also excited to have Richard Restuccia leading this team now. He is an industry thought leader for smart controllers and technology for water management. Before joining Jain Irrigation, Inc. in 2014 Richard was the first ever Director of Water Management at ValleyCrest Companies (now Brightview) the largest landscape contractor in the United States. He created real change in landscape irrigation and we expect it will accelerate even faster now,” said Olson.
Headquartered in Jalgaon, Maharashtra, Jain was founded in 1986, by Bhavarlal Jain. It is a fully integrated global food/plant production company recognized by Harvard Business to be one of five global sustainability champions and the G-20 for lifting people out of poverty.
In February 2007, Jain acquired the US-based Aquarius Brands for $21. 5 million in an all-cash deal and became the second-largest drip irrigation company in the world.