Itron has partnered with Accell to expand its footprint in the Latin America smart grid market.
Accell has become Itron’s regional partner and lead distributor for the Latin America region.
Accell will manufacture devices sold in Latin America and provide services and support for those products.
In addition, Accell will also be the lead regional distributor for Itron products designed and built outside of Latin America, giving access to Itron’s full suite of solutions, including networked solutions, analytics, smart cities and outcomes offerings.
By partnering with Accell in Latin America, Itron furthers its strategy to enhance flexibility to capitalise on other opportunities.
All of Itron’s Latin American facilities and employees will become wholly part of Accell, except for several Mexico-based employees who will remain supporting Itron contract manufacturing operations in Mexico.
Itron will assist with a transition over a period of months to ensure a smooth handoff of product training, customer relationships, and technical and product support. Accell will also have ongoing access to Itron expertise.
Focused exclusively on Latin America with an in-region team, Accell will be better situated to serve customers, partners and deliver new levels of success in the region.
The agreement is expected to close by June 30, 2020.
Mark de Vere White, senior vice president of Customer & Market Experience at Itron, said: “Latin America is a very important and strategic region, and this agreement gives Itron and Accell the opportunity to maximize the market opportunity there. It’s a win-win with Accell providing the regional focus and Itron providing the product portfolio to help Accell optimize the business model.
“Together, we will be better positioned to drive customer success in the region.”
Roberto Hernandez, Chairman of Accell adds: “Accell’s leadership team has the experience and drive to grow the Latin American market. When we approached Itron several months ago with this business strategy, we saw this as an opportunity to partner with a market leader and to apply resources and focus for continued innovation in the region.
“Accell’s leadership team are experts in doing business in Latin America and we know how to be successful here, with a strong understanding of local laws, languages, cultures and business market opportunities. We look forward to the opportunity this agreement brings for our customers and partners to benefit directly from a singular regional focus and increased regional investment.”
Accell is a newly-formed company built around Itron’s existing leadership team in Latin America and three additional companies – Ethos Asset Management, Straight Manufacture and Insprotec S.A. DE C.V, which currently operates throughout South America and with the new entity will be headquartered in Americana, Brazil.