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Press Release

Itron Finalizes Strategic Acquisition of Smart Grid Technology Provider SmartSynch

Adding cellular communications to Itron's smart grid portfolio provides utilities with more choices

LIBERTY LAKE, Wash.—May 1, 2012—Itron, Inc. (NASDAQ: ITRI) announced today that it has completed its previously announced acquisition of privately held SmartSynch for $100 million. The acquisition strengthens Itron's cellular communications offering and brings greater choice to utility customers across the spectrum of smart metering deployments.

"I'm delighted to complete this acquisition of SmartSynch," said LeRoy Nosbaum, Itron president and chief executive officer. "Itron has a long legacy of building flexible solutions to meet unique customer needs. By expanding our offering to include integrated cellular communications, we are positioned to help customers deploy the best technology mix and accelerate the adoption of smart metering and smart grid technologies."

SmartSynch, the leading provider of point-to-point smart grid solutions that utilize a cellular network for communications, has more than 130 customers, including nine of the top ten utilities in North America. Most recently, SmartSynch's technology was selected by Consumers Energy to meet the needs of a full cellular smart grid network deployment for 1.9 million electric residential and commercial & industrial customers.

Nosbaum continued, "We're pleased to welcome the employees of SmartSynch to Itron which we believe will be a great fit."

Stephen Johnston, former SmartSynch chief executive officer, will continue in a leadership role, setting cellular technology strategy for integrated smart grid solutions at Itron.

"By joining forces, we are the only company that can offer cellular along with a variety of RF-based technologies for smart grid projects today," said Stephen Johnston, head of Cellular Solutions for Itron. "This is good for our customers, our business and the industry."


About Itron

Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure services to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.

Itron® and OpenWay® are registered trademarks of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

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