Itron, Inc. (NASDAQ: ITRI) has announced its definitive agreement to acquire Urbint, Inc. for a purchase price of $325 million, to be funded through cash on hand. The transaction is expected to close during the fourth quarter of 2025.
The addition of Urbint to Itron’s portfolio is a significant move in the execution of Itron’s strategy to enable its customers to address pressing industry issues. Urbint’s AI-powered operational resilience solutions are set to enhance Itron’s existing offerings.
Itron’s president and CEO, Tom Deitrich, expressed excitement about the acquisition, stating that Urbint’s solutions align directly with Itron’s mission to provide mission-critical solutions to utilities. Corey Capasso, the Founder and CEO of Urbint, also expressed enthusiasm about the acquisition, believing it provides Urbint with an opportunity to accelerate its mission of building resilience alongside the industry leader in technology for utilities.
Itron is known for transforming how the world manages energy, water, and city services, and the addition of Urbint is poised to further improve efficiency, build resilience, and deliver safe, reliable, and affordable service.
The acquisition of Urbint, a software company based in Miami, Florida, reflects Itron’s commitment to leveraging real-world data and artificial intelligence to efficiently and accurately predict and prevent incidents that threaten critical infrastructure, workers, the community, and the environment.
This acquisition marks a significant step for Itron as it continues to expand its capabilities and offerings to better serve its customers in the utilities and cities sector. The market has reacted to these announcements by moving the company's shares 0.4% to a price of $125.94. Check out the company's full 8-K submission here.
