M&A Deal Summary

Itron Acquires LineSoft

On March 13, 2002, Itron acquired software company LineSoft from GFI Energy Ventures and Oaktree Capital Management for 42M USD

Acquisition Highlights
  • This is Itron’s 1st transaction in the Software sector.
  • This is Itron’s 7th largest (disclosed) transaction.
  • This is Itron’s 1st transaction in the United States.
  • This is Itron’s 1st transaction in Washington.

M&A Deal Summary

Date 2002-03-13
Target LineSoft
Sector Software
Buyer(s) Itron
Sellers(s) GFI Energy Ventures
Oaktree Capital Management
Deal Type Add-on Acquisition
Deal Value 42M USD
Advisor(s) Harris Williams (Financial)

Target

LineSoft

Spokane, Washington, United States
LineSoft Corp. is a provider of engineering design software applications and consulting services to the utility industry.

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Buyer(S) 1

Buyer

Itron

Liberty Lake, Washington, United States

Category Company
Founded 1977
Sector Test/Measurement Equipment
Employees5,040
Revenue 2.4B USD (2024)
DESCRIPTION
Itron's headquarters located in Liberty Lake, Washington.
Itron's headquarters located in Liberty Lake, Washington.

Itron is a technology and services company dedicated to the resourceful use of energy and water. The company provides comprehensive solutions that measure, manage,e and analyze energy and water. Itron was founded in 1977 and is based in Liberty Lake, Washington.


DEAL STATS #
Overall 1 of 12
Sector: Software M&A 1 of 5
Type: Add-on Acquisition M&A Deals 1 of 12
State: Washington M&A 1 of 1
Country: United States M&A 1 of 9
Year: 2002 M&A 1 of 2
Size (of disclosed) 7 of 8
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-02 eMobile Data

Richmond, British Columbia, Canada

eMobile Data Corp. is a provider of wireless, Web-based workforce management solutions for the utility industry.The company's flagship product is Service-Link, a Web-based application for utility field service dispatching and mobile workforce management.

Buy $6M

Seller(S) 2

SELLER

GFI Energy Ventures

Los Angeles, California, United States

Category Private Equity Firm
Founded 1995
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

GFI Energy Ventures is a specialist private investment firm focused on businesses surrounding the energy industry. GFI generally looks to acquire a controlling or significant interest in private companies or business units of public companies. Energy sub-sectors of interest include power quality/power conversion; energy measurement and control; transmission and distribution optimization; and information systems/transaction support. GFI seeks opportunities with at least $50 million in revenue and valued up to $500 million. The Firm will not invest in start-ups, turnarounds, unproven technology, or investments requiring less than $30 million of equity capital. GFI Energy Ventures was formed in 1995 and is based in Los Angeles, California. GFI Energy Ventures was acquired by Oaktree Capital Management in 2009.


DEAL STATS #
Overall 1 of 30
Sector: Software M&A 1 of 4
Type: Add-on Acquisition M&A Deals 1 of 18
State: Washington M&A 1 of 2
Country: United States M&A 1 of 28
Year: 2002 M&A 1 of 1
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-01 LODESTAR

Peabody, Massachusetts, United States

LODESTAR Corp. is a provider of energy software products which address such critical back office requirements for energy market participants as pricing, complex billing, load analysis, and settlement.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Longhorn Pipeline Holdings

Houston, Texas, United States

Longhorn Pipeline Holdings LLC is an owns a 764-mile pipeline designed to transport refined petroleum products from the U.S. Gulf Coast refineries to terminals in Odessa and El Paso, Texas.

Buy -
SELLER

Oaktree Capital Management

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1995
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oaktree Capital Management LLP is a global alternative investment firm with a variety of investment strategies spanning corporate debt, convertible securities, distressed debt, control investing, real estate, and public investing. The Firm's control investing group is spread across several disciplines, including Global Principal, European Principal, Power, and Infrastructure. Oaktree was formed in 1995 and is based in Los Angeles.


DEAL STATS #
Overall 1 of 90
Sector: Software M&A 1 of 4
Type: Add-on Acquisition M&A Deals 1 of 39
State: Washington M&A 1 of 1
Country: United States M&A 1 of 59
Year: 2002 M&A 1 of 1
Size (of disclosed) 17 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-05-01 Tandus Centiva

Dalton, Georgia, United States

Tandus Centiva, Inc. is a manufacturer of floorcovering solutions for the commercial and institutional markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Longhorn Pipeline Holdings

Houston, Texas, United States

Longhorn Pipeline Holdings LLC is an owns a 764-mile pipeline designed to transport refined petroleum products from the U.S. Gulf Coast refineries to terminals in Odessa and El Paso, Texas.

Buy -