Itron, Inc., a world-leading technology and services company dedicated to the resourceful use of energy and water, has completed its previously announced acquisition of privately held Comverge by purchasing its parent company, Peak Holding Corp., for approximately $100 million.
With the acquisition, Itron strengthens its portfolio of grid solutions with the industry’s leading demand response offering while also paving the way for game-changing distributed energy management applications using Itron’s OpenWay Riva™ IoT solution.
The combined solution will bring new data and real-time awareness that promises to greatly enhance the consumer engagement experience. It will allow price signals to be sent to consumers in real time and enable demand charge management with real-time alerts and automated load control. Imagine a solution that could learn a consumer’s preferences and willingness to tolerate higher temperatures in their home by presenting cost versus comfort tradeoff settings and observing interactions with the thermostat during load control events.
Itron is a world-leading technology and services company dedicated to the resourceful use of energy and water. We provide comprehensive solutions that measure, manage and analyze energy and water. Our broad product portfolio includes electricity, gas, water and thermal energy measurement devices and control technology; communications systems; software; as well as managed and consulting services.
Jones Day ha advised Itron, Inc. on the deal with a team led by partner Daniel Mitz (picture), assisted by associates Aarthi Belani and Ka-on Li.
Law Firms: Jones Day;
Clients: Itron, Inc.;