Silver Spring Networks Stockholders Approve Merger with Itron

LIBERTY LAKE, Wash. and SAN JOSE, Calif. — Jan. 3, 2018 — Itron, Inc. (NASDAQ: ITRI) and Silver Spring Networks, Inc. (NYSE: SSNI) today announced that Silver Spring Networks stockholders have approved the previously announced merger with Itron. Silver Spring Networks and Itron expect the transaction to close on or about Jan. 4, 2018.

 

At the special meeting of stockholders, approximately 68 percent of the outstanding shares of common stock entitled to vote at the meeting voted in favor of the proposal to adopt the merger agreement and approve the merger, based on the preliminary results of voting. The final results of voting will be reported in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission.

 

Forward Looking Statements

This release contains forward-looking statements within in the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding the expected timing of the completion of the previously announced pending acquisition of Silver Spring Networks by Itron. Statements that include words such as “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,” “potential,” “continue,” “goals,” “targets” and variations of these words (or negatives of these words) or similar expressions of a future or forward-looking nature identify forward-looking statements. In addition, any statements that refer to projections or other characterizations of future events or circumstances, including any underlying assumptions are forward-looking statements. Although we believe the estimates and assumptions upon which these forward-looking statements are based are reasonable, any of these estimates or assumptions could prove to be inaccurate and the forward-looking statements based on these estimates and assumptions could be incorrect. Important factors and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements include, without limitation: uncertainties as to the timing of the transaction; the conditions to the completion of the transaction may not be satisfied; legal proceedings that may be instituted against Itron or Silver Spring Networks and others following announcement of the proposed transaction; and other factors detailed in Silver Spring Networks’ Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) for the fiscal year ended Dec. 31, 2016 and Silver Spring Networks’ other filings with the SEC, which are available at http://www.sec.gov and on Silver Spring Networks’ website at www.ssni.com; and other factors discussed in Itron’s Annual Report on Form 10-K filed with the SEC for the year ended Dec. 31, 2016 and Itron’s other filings with the SEC, which are available on Itron’s website at www.itron.com. Itron and Silver Spring Networks assume no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

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Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions 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.

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