M&A Deal Summary

Itron Acquires Silver Spring Networks

On September 18, 2017, Itron acquired internet software and services company Silver Spring Networks for 830M USD

Acquisition Highlights
  • This is Itron’s 1st transaction in the Internet Software and Services sector.
  • This is Itron’s 2nd largest (disclosed) transaction.
  • This is Itron’s 6th transaction in the United States.
  • This is Itron’s 2nd transaction in California.

M&A Deal Summary
Date 2017-09-18
Target Silver Spring Networks
Sector Internet Software and Services
Buyer(s) Itron
Deal Type Add-on Acquisition
Deal Value 830M USD
Advisor(s) Evercore Group (Financial)
Fenwick & West (Legal)

Target

Silver Spring Networks

Redwood City, California, United States
Silver Spring Networks, Inc. is a provider of networking platform, software and services that enable energy networks to perform brilliantly at enormous scale. Silver Spring Networks was founded in 2002 and is based in Redwood City, California.

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Buyer(S) 1

Buyer

Itron

Liberty Lake, Washington, United States
Category Company
Founded 1977
Sector Test/Measurement Equipment
Employees5,081
Revenue 2.2B USD (2023)
DESCRIPTION

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

DEAL STATS #
Overall 9 of 10
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 9 of 10
State (California) 2 of 3
Country (United States) 6 of 7
Year (2017) 2 of 2
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-01 Comverge

Norcross, Georgia, United States

Comverge, Inc. is a provider of an integrated set of demand response, energy efficiency and customer engagement solutions that enable electric utilities to ensure grid reliability, lower energy costs, meet regulatory demands and enhance the customer experience. Comverge was founded in 1974 and is based in Norcross, Georgia.

Buy $100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-03 Itron - Global Gas Regulator and European C&I Gas Metering Business

Liberty Lake, Washington, United States

Itron's Global Gas Regulator and European C&I Gas Metering Business provider in Liberty Lake, Washington.

Sell -
Mergr

Product

Company

Legal