15 Feb '12, 11pm

Itron Buys SmartSynch: Itron, North America’s biggest smart meter maker, is buying cellular smart meter leader...

Itron, North America’s biggest smart meter maker, is buying cellular smart meter leader SmartSynch for $100 million . Chalk up a big win for the cellular smart grid. The companies announced the deal on Wednesday, and said it was expected to close in the second quarter of the year. The merger is expected to add about $50 million to Itron’s annual revenues , the Liberty Lake, Wash.-based company announced. This may not be the most expensive smart grid acquisition so far this year. But in terms of cementing cellular networks’ place in the smart metering landscape, it’s major news. The two plan to merge their two platforms into Itron's OpenWay system, Philip Mezey, president and chief operating officer for Itron's global energy business, said in a Wednesday interview. The two companies have been working together since at least 2004, with SmartSynch's communications going into ...

Full article: http://www.greentechmedia.com/articles/read/itron-buys-sm...

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