Itron specializes in energy and water analytics and technology. Silver Spring is a smart city and mesh network player. The two see more Internet of Things (IoT) grid and city connections.
Itron, which focuses on energy and water analytics and technology, said it will acquire Silver Sprint Networks, an Internet of Things and smart city player, in a deal valued at $830 million.
The combined companies are expected to target smart city deployments as well as smart grid technology.
Under the terms of the deal, Itron will acquire Silver Spring for $16.25 a share in cash. The price tag is a 25-percent premium to Silver Spring's closing price on Friday.
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