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BRIEF-Itron to acquire Silver Spring Networks
September 18, 2017 / 11:25 AM / in 3 months

BRIEF-Itron to acquire Silver Spring Networks

Sept 18 (Reuters) - Itron Inc

* Itron to acquire Silver Spring Networks to accelerate smart grid and smart city innovation and growth

* Itron Inc - deal for ‍$16.25 per share​

* Itron Inc - deal ‍accretive to non-GAAP EPS and adjusted EBITDA in 2019​

* Itron Inc - deal for ‍approximately $830 million​

* Itron Inc - ‍transaction is valued at approximately $830 million​

* Itron Inc - ‍anticipates approximately $50 million in annualized cost synergies to be substantially realized within three years of completing deal​

* Itron Inc - plans to finance transaction using a combination of cash and approximately $750 million in incremental new debt

* Itron Inc - fully committed financing for deal has been provided by Wells Fargo

* Itron Inc - deal value of about $830 million is net of $118 million of silver spring’s cash​ Source text for Eikon: Further company coverage:

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