Itron has completed the acquisition of Actaris Metering Systems (Actaris) for e800m plus the retirement of debt.
Actaris operates in electricity, gas and water metering, primarily outside of North America. Itron is a supplier of AMR systems and electricity meters in North America. The combined company will be one of the largest electricity, gas and water metering companies in the world.
The acquisition will allow Actaris to offer Itron’s AMR and advanced metering infrastructure (AMI) technologies, software and systems expertise to customers outside of North America, and expand Actaris gas and water meter opportunities in North America. The combined company will have more than 8,000 utility customers, 33 manufacturing facilities, customers in more than 60 countries and have more than 8,500 employees.
Actaris will continue to operate as normal. Malcolm Unsworth, Itron’s former vice president of hardware solutions, has moved to Brussels to assume the day-to-day operations of the company as Actaris’ senior vice-president and chief operating officer. Actaris will continue to operate its electric, gas and water businesses. Itron will report financial results for Actaris as a standalone business with these three operating segments, in addition to reporting financial results for Itron’s previously established hardware and software segments with sales and operations primarily concentrated in North America.
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