$830M deal makes Itron world's second-largest smart meter company

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Smart meter reader company Itron Inc. has secured a $1.15 billion loan to close its $830 million acquisition of smart meter networking and communications company Silver Spring Networks Inc., according to a filing with the Securities and Exchange Commission. Itron paid $16.25 per share, a premium of 25 percent from Silver Spring’s mid-September closing stock price. The merger creates the world's second largest smart meter reading company behind Switzerland-based Landis+Gyr, which recently spun...

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