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Thursday, November 4, 2021
HOUSTON, Texas and LIBERTY LAKE, Wash. — Nov. 3, 2021 — Dresser Utility Solutions, a solutions provider for utility companies, and Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, have reached an agreement for the sale of Itron’s global gas regulator business and European commercial & industrial (C&I) gas metering business to Dresser Utility Solutions. The transaction is subject to customary closing conditions, including completion of European and country due processes with employee representative bodies, and is expected to close in the first half of 2022.
David Evans, President and CEO of Dresser Utility Solutions, commented, “This acquisition will enable us to better serve our customers with a broader product offering and expanded global presence. We look forward to welcoming Itron’s global gas regulator and European C&I metering employees to the Dresser Utility family and continuing to invest in these product lines on behalf of our current and future customers.”
Justin Patrick, Itron’s senior vice president of Device solutions, commented, “This agreement is a win for our customers, as well as Dresser Utility Solutions and Itron. Our customers and partners will benefit from working with a trusted gas industry leader with over a century of experience in manufacturing technologies for the utility industries. For Itron, it enables us to increase our focus on innovative static, communication-capable assets and outcomes for gas, water and electric utilities.”
As part of the sale, Itron employees supporting European mechanical gas C&I meters and stations and global gas regulators will become employees of Dresser Utility Solutions. Itron will continue to develop and offer high value communicating electricity, gas, water devices in Europe and globally.
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