Xylem has agreed to acquire the Cornell Pump and Roper Pump businesses from Indicor for $1.46 billion.

The acquisition will expand Xylem’s pumping technologies and its ability to serve industrial and municipal applications. The company said the deal also supports its strategy to increase exposure to growth sectors driven by infrastructure investment, industrial modernization and rising resource demands.

Cornell Pump and Roper Pump add engineered technologies for demanding fluid-handling applications. These include slurry transport, solids handling and applications requiring significant suction lift.

The businesses also bring patented self-priming capabilities and specialized application expertise. Their technologies serve customers in construction, mining, food and beverage, agriculture, energy and municipal markets.

“The long-term demand drivers supporting our business continue to strengthen, creating new opportunities across industrial markets where water is increasingly critical to operational success,” said Matthew Pine, president and CEO of Xylem.

Following the acquisition, the Cornell Pump and Roper Pump businesses will be reported within Xylem’s Water Infrastructure segment.