Itron Completes Acquisition of Silver Spring Networks to Drive Innovation and Growth in IoT
Industry-defining acquisition advances ability to deliver more value-added services and outcomes-based solutions to utilities and smart cities worldwide
With this acquisition,
"The addition of Silver Spring Networks comes at a time when industry
dynamics are changing: utilities and cities want to invest in IoT and
connectivity to modernize critical infrastructure to reduce operating
expenses, enhance services and create new revenue opportunities," said
By integrating Silver Spring Networks' platform and solutions, including
its smart street light offering, into Itron's broad portfolio, the
combined expertise in delivering smart utility, smart city and
industrial IoT solutions provides the industry with an unparalleled
offering. With a focus on open-standards platform development for
connectivity and automation, alongside a robust partner ecosystem,
"This is a tremendous step forward for
The legacy Silver Spring Networks business is now a wholly-owned
subsidiary of
About
Forward-Looking Statements
This release contains forward-looking statements within in the meaning
of the Private Securities Litigation Reform Act of 1995. These
statements relate to our expectations about revenues, operations,
financial performance, earnings, earnings per share and cash flows, as
well as the integration of Silver Spring Networks. Although we believe
the estimates and assumptions upon which these forward-looking
statements are based are reasonable, any of these estimates or
assumptions could prove to be inaccurate and the forward-looking
statements based on these estimates and assumptions could be incorrect.
Our operations involve risks and uncertainties, many of which are
outside our control, and any one of which, or a combination of which,
could materially affect our results of operations and whether the
forward-looking statements ultimately prove to be correct. Actual
results and trends in the future may differ materially from those
suggested or implied by the forward-looking statements depending on a
variety of factors. Some of the factors that we believe could affect our
results include our ability to achieve estimated cost savings, the rate
and timing of customer demand for our products, rescheduling of current
customer orders, changes in estimated liabilities for product
warranties, adverse impacts of litigation, changes in laws and
regulations, our dependence on new product development and intellectual
property, future acquisitions, changes in estimates for stock-based and
bonus compensation, increasing volatility in foreign exchange rates,
international business risks and other factors that are more fully
described in our Annual Report on Form 10-K for the year ended
View source version on businesswire.com: http://www.businesswire.com/news/home/20180105005560/en/
Vice President,
Investor Relations
barbara.doyle@itron.com
or
Director, Public Relations
angela.lockwood@itron.com
Source:
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