Itron finalizes purchase of Silver Spring Networks for $830 million

Itron Inc. has finalized the $830 million purchase of competitor Silver Spring Networks, of San Jose, California, company officials announced Friday.

Silver Spring Networks works globally in the smart utility and smart city sectors, with a customer list that includes U.S. and Asian utilities. The sale will accelerate Itron’s growth and innovation in both areas through Silver Springs’ complementary technology, including smart street lighting, officials said.

Silver Spring Networks will operate as a subsidiary of Itron, under the name Itron Networked Solutions.

Itron has 8,000 employees worldwide, including 500 at its corporate headquarters in Liberty Lake. The company helps customers in more than 100 countries measure and control their water and energy use, officials said. Itron sells software and communication systems and provides management and consulting services.