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Another Itron Energy IT Buy
Itron, the automated meter reading (AMR) vendor, pushed up the pace of energy industry IT M&A again today with its $225 million purchase of Schlumberger's Electricity Metering business. The deal joins a list of recent Itron buys including Silicon Energy, a vendor of various utility and end-user IT soutions for $71 million, and RER, an electricity pricing model vendor.
Itron's rapid roll-up competes with Sungard's, slew of energy IT buys: that of energy transaction management specialist Caminus Software for $159M; and -- for $121 million -- HTE, which offers IT software and services for public-sector clients.
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