Itron, Inc. acquired Elpis Squared for $34.1 million.
March 04, 2024
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Itron, Inc. (NasdaqGS:ITRI) acquired Elpis Squared for $35 million on March 1, 2024. The purchase price for this acquisition is $35 million, with adjustment for the final working capital amount, to be determined 90 days following the transaction?s close. The purchase was funded through cash on hand. The acquisition of Elpis Squared strengthens Itron?s Grid Edge Intelligence portfolio.
Itron, Inc. (NasdaqGS:ITRI) completed the acquisition of Elpis Squared for $34.1 million on March 1, 2024. As per the filling of May 2, 2024, the preliminary purchase price for this acquisition is $34.1 million, with adjustment for the final working capital amount, to be determined in July 2 024.
Itron, Inc. provides energy, water, smart city, Industrial Internet of Things (IIoT) and intelligent infrastructure services. The Company operates in three segments. The Device Solutions segment primarily includes hardware products used for measurement, control, or sensing. Its Networked Solutions segment primarily includes a combination of communicating devices, network infrastructure, and associated head-end management and application software designed and sold as a complete solution for acquiring and transporting application-specific data. Its Outcomes segment includes its value-added, enhanced software and services, artificial intelligence, and machine learning in which it enable grid edge intelligence and manage, organize, analyze, and interpret raw, anonymized data to improve decision making. It is also engaged in embedding real-time, high-resolution grid edge data into the grid planning, operations and engineering process. Its solutions include technology, software and services.