Itron Acquires Elpis Squared

Itron, Inc. (NASDAQ: ITRI) has just announced its acquisition of Elpis Squared, a provider of software and services for utility grid operations. The acquisition is aimed at expanding Itron’s Grid Edge Intelligence portfolio, adding expertise in grid planning, operations, and engineering. Elpis Squared, founded in 2013 and headquartered in Newport Beach, CA, is known for modernizing the electric distribution grid by providing innovative and cost-effective management and optimization solutions to utilities.

This move is significant for Itron as it allows the company to embed real-time, high-resolution grid edge data into the grid planning, operations, and engineering process, which is an industry first. This integration enables enhanced insights for more accurate distribution grid modeling and analysis, delivering improved performance metrics for the grid edge.

The acquisition is expected to accelerate key elements of Itron’s product roadmap and enable utilities to maximize the value of existing investments. Integrated solutions with Itron’s Grid Edge Intelligence portfolio are expected to be available in Q4 2024, and Elpis Squared solutions are available immediately to Itron’s customers in North America.

Don Reeves, Senior Vice President of Outcomes at Itron, expressed excitement about the acquisition, stating, “The acquisition of Elpis Squared strengthens Itron’s Grid Edge Intelligence portfolio and will accelerate our product roadmap to create more value for our customers.” Bryan Wright, CEO of Elpis Squared, also shared his enthusiasm, highlighting the potential for Itron to catalyze the transformation of energy infrastructure and help utilities enhance resource productivity.

This acquisition is positioned to provide several benefits to utilities, including improved integrated grid planning, streamlined scenario planning and impact studies, enhanced asset planning, and improved wildfire prevention and mitigation. With the addition of Elpis Squared’s solutions to Itron’s portfolio, the company aims to address the energy transition and help utilities navigate a transforming grid with confidence.

As a result of these announcements, the company's shares have moved -1.1% on the market, and are now trading at a price of $92.77. If you want to know more, read the company's complete 8-K report here.

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