Itron signs agreement to buy SmartSynch for $100M
by MBJ Staff
Published: February 16,2012
JACKSON — Itron Inc. of Liberty Lake, Wash., has signed an agreement to acquire SmartSynch Inc. in a transaction valued at $100 million. The parties said they expect the transaction 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 CEO. “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 is a leading provider of 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.
SmartSynch and Itron have partnered for more than a decade, delivering integrated solutions to some of Itron’s largest smart grid customers.
“Utility customers are demanding more options and this is a combination that just makes sense,” said Stephen Johnston, SmartSynch CEO. “Our companies share existing customer relationships, integrated technologies and a common culture that will enable us to pursue new opportunities. Itron’s diversified portfolio, combined with our cellular technology, makes us the best team in the business going forward.”
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Itron signs agreement to buy SmartSynch for $100M”
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Shale oil: market correction or longterm direction?
- Aluminum company rumored for Columbus: 'clock' is for website, not plant site
- Miss. surgeon sentenced in tax evasion case
- WILLOUGHBY: Mayo Flynt leads AT&T Mississippi by enjoying both work and workers
- MBJ exclusive: Jackson’s new airport CEO fulfills desire to taking on the top job
- MARTIN WILLOUGHBY: Gary Herring building tomorrow by educating today
- Hyatt-Place is Columbus’ newest hotel option
- J.McLaughlin to open in Highland Village next spring
- Pearl ordering rental properties to retrofit with sprinklers, build storm shelters