Smart Cities

Itron / Silver Spring Merger Creates an IoT Powerhouse for Smart Cities and Grids

Earlier this month, in what might be the deal of 2017, Itron agreed to acquire Silver Spring Networks, in a merger that brings together two of the main driving forces of the Internet of Things (IoT) in smart cities and grids. The two firms announced that they had signed a definitive agreement for Itron to acquire all outstanding shares of Silver Spring for $16.25 per share in cash. Meaning the transaction is valued at approximately $830 million, net of $118 million of Silver Spring’s cash. This represents a premium of 25% to Silver Spring’s closing share price on Sept. 15, 2017, the last trading day prior to the announcement of the transaction. The transaction has been unanimously approved by the boards of directors of both companies. Back in 2015 Memoori reported, “over the past few years, we’ve seen Smart grid and IT technology vendors change their approach to the utility data analytics. Recently two smart […]

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