Itron completes $100 million acquisition of smart grid provider
Itron has announced the completion of its $100 million takeover of privately help smart grid technology generator SmartSynch.
SmartSynch provides smart grid solutions that use a cellular network for communications and has more than 130 customers, including nine of the top ten North American utilities, strengthening Itron’s communications side and adds more choice for utility customers deploying smart meters.
The company’s technology was most recently selected by Consumers Energy for the deployment of an electricity smart grid network for 1.9 million residential, commercial and industrial customers.
“I’m delighted to complete this acquisition of SmartSynch,” says Itron president and CEO LeRoy Nosbaum. “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.”