The consummation of the acquisition of tekmar, which is expected to close by the end of January 2012, is subject to customary closing conditions.
Watts Water Technologies North America president Srinivas Bagepalli said tekmar is a designer and manufacturer of proprietary control solutions for heating, ventilating, and air-conditioning applications.
"Its products are designed to add value to any building by improving the efficiency, reliability, comfort, and quality of indoor living," Bagepalli said.
"tekmar provides energy saving control solutions for a wide range of hydronic (water based) systems which we believe will complement our existing product offering."
Canada-based tekmar Control Systems had annual revenues in the last year of about $11m.
Watts Water Technologies is engaged in the manufacture of innovative products to control the efficiency, safety, and quality of water within residential, commercial, and institutional applications.
