Liberty Lake, WA, U.S.A. --- (METERING.COM) --- February 17, 2012 - Itron is to acquire cellular network smart grid solution provider SmartSynch for $100 million, the company has announced.
According to a statement, the acquisition will bring greater choice to utility customers across the spectrum of smart metering deployments and strengthen Itron’s integrated cellular communications offering. The transaction is expected to close in the second quarter of 2012.
“SmartSynch is a compelling strategic acquisition that strengthens our position in the industry and with our energy and water utility customers,” said LeRoy Nosbaum, Itron president and chief executive officer. “SmartSynch brings a highly complementary technology to our existing communication network offering, broadens our portfolio and enhances Itron’s ability to support our customers with their smart grid projects.”
SmartSynch, headquartered in Jackson, MI, has more than 130 customers, including nine of the top ten utilities in North America. SmartSynch and Itron have partnered for more than a decade to deliver integrated solutions, with the complementary technologies able to provide a solution in areas where RF mesh networks are not available, or are cost prohibitive. In addition, SmartSynch’s technology will meet the needs of full cellular smart grid network deployments.