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Itron closes acquisition of Comverge

Itron Inc. on June 1 announced that it has closed its acquisition of Comverge Inc. and its parent company Peak Holding Corp. under a deal valued at about $100 million.

"The growing need for utilities to meet energy efficiency regulations, enable customer choice in energy management and better optimize the use of distributed energy resources is driving a convergence between smart connected networks and demand side solutions. Through this acquisition, we are helping our utility customers address these trends to better facilitate grid performance and reliability, reduce peak demand, drive customer engagement and save energy," said Mark de Vere White, president of Itron's electricity business line.

Through the combined technologies of Itron and Comverge, price signals may be sent to consumers in real time and demand charge management may be enabled with real-time alerts and automated load control.