Itron acquires Comverge for approximately $100 million
Clients Itron, Inc.
Jones Day advised Itron, Inc. (NASDAQ: ITRI) in its approximately $100 million cash acquisition of Comverge, Inc. by way of the purchase of its parent company, Peak Holding Corp. Itron is a world-leading technology and services company dedicated to the resourceful use of energy and water that provides comprehensive solutions that measure, manage, and analyze energy and water. Itron's broad product portfolio includes electricity, gas, water, and thermal energy measurement devices and control technology; communications systems; software; as well as managed and consulting services. Comverge is an industry-leading provider of integrated cloud-based demand response, energy efficiency, and customer engagement solutions that enable electric utilities to ensure grid reliability, lower energy costs, meet regulatory demands, and enhance the customer experience. Through its combination of software, hardware, and services, Comverge helps utilities optimize every aspect of a demand management program, from participant recruitment and device installation to call center support, control events, and measurement and verification.
In addition to M&A representation, Jones Day provided employee benefits and intellectual property advice regarding this transaction.