Smart meter-maker Itron left no doubt that it is on the move, with an acquisition, a test project with National Grid in Massachusetts and a plan to double its software development staff in North Carolina.
Wednesday, Itron said it had signed papers to buy out privately held SmartSynch, Inc. for $100 million. At the same time, it said it and National Grid will set up a project in Massachusetts "to build and evaluate an advanced smart grid ... utilizing a new generation of standards-based network technology."
Last week, the Triangle Business Journal in Raleigh, N.C., reported that Itron "is working on a plan that could double its software development staff in Raleigh to more than 400 people."
President and CEO LeRoy Nosbaum said in a statement, "SmartSynch is a compelling strategic acquisition that strengthens our position in the industry and with our energy and water utility customers."
Electric Light and Power reported that Itron said the Massachusetts project will "field test the multi-application capabilities of the new Itron-Cisco IPv6-based smart-grid solution, including advanced metering , home area networking and distribution automation."