Itron Inc. will license an Internet protocol developed by Cisco to create what the companies said today will be a more reliable and secure smart grid.
Itron, the Liberty Lake-based company that has developed and sold automated metering systems for more than 30 years, will incorporate Cisco technology into its Open Way meters. Itron will also distribute Cisco networking equipment and software.
The new partnership will give utilities a better way to access more energy resources, and respond to customer demand for more control over their energy use, a joint news release says.
"The alliance between Cisco and Itron represents a major step forward in the realization of a modern, more intelligent energy infrastructure," Cisco Senior Vice President Laura Ipsen said.
Itron shares climbed $3.65 to $57.65, an increase of almost seven percent, after the alliance was disclosed. Cisco shares climbed 27 cents to $20.26.