Itron Finalizes Strategic Acquisition of Smart Grid Technology Provider SmartSynch

Itron Finalizes Strategic Acquisition of Smart Grid Technology Provider SmartSynch

Greentech Lead America: Itron, a provider of energy and
water resource management solutions, has completed the acquisition of privately
held SmartSynch for $100 million, further strengthening its cellular
communications offering to serve the needs of emerging smart metering market.

Both companies had
signed an agreement
 in this regard in March this year.

SmartSynch provides point-to-point smart grid solutions
that utilize a cellular network for communications. The company has more than
130 customers, including nine of the top ten utilities in North America.

Most recently, SmartSynch’s technology was selected by
Consumers Energy to meet the needs of a full cellular smart grid network
deployment for 1.9 million electric residential and commercial & industrial
customers.

“I’m delighted to complete this acquisition of
SmartSynch,” said LeRoy Nosbaum, Itron president and chief executive
officer. “Itron has a long legacy of building flexible solutions to meet
unique customer needs. By expanding our offering to include integrated cellular
communications, we are positioned to help customers deploy the best technology
mix and accelerate the adoption of smart metering and smart grid
technologies.”

Following the acquisition, the employees of SmartSynch
will join
Itron. Stephen Johnston, former SmartSynch
chief executive officer, will now head the Cellular Solutions for Itron,
setting cellular technology strategy for integrated smart grid solutions at
Itron.

“By joining forces, we are the only company that can
offer cellular along with a variety of RF-based technologies for smart grid
projects today,” said Johnston. “This is good for our customers, our
business and the industry.”

Itron offers end-to-end solutions that include
electricity, gas, water and thermal energy measurement and control technology;
communications systems; software; and professional services.

Itron selected to provide advanced metering solution to
Indonesian water utility

Itron’s commercial and industrial advanced metering
infrastructure was recently selected by the City of Malang’s water utility,
Perusahaan Daerah Air Minum Kota Malang (PDAM), in East Java, Indonesia to
effectively monitor its distribution network and improve water resource
management.

[email protected]