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LIBERTY LAKE, Wash. - Itron, Inc. (NASDAQ:ITRI), a provider of energy and water management solutions with a market capitalization of $5.75 billion and annual revenue of $2.44 billion, announced Monday it has signed a definitive agreement to acquire Miami-based software company Urbint, Inc. for $325 million in an all-cash transaction. According to InvestingPro data, Itron maintains a strong financial health score of "GREAT," operating with moderate debt levels and ample liquidity.
The acquisition will be funded through Itron’s existing cash reserves and is expected to close during the fourth quarter of 2025, according to a company press release. The company’s strong balance sheet, with liquid assets exceeding short-term obligations by a factor of 2.04, positions it well for this strategic move.
Urbint specializes in AI-powered operational resilience solutions that help utilities restore power faster after major weather events, prevent worker injuries, and protect underground assets from third-party damages that can cause service disruptions.
"The addition of Urbint to Itron’s portfolio signifies another step in the execution of our strategy to enable Itron’s customers to address the most pressing issues in the industry today," said Tom Deitrich, Itron’s president and CEO.
Urbint’s founder and CEO Corey Capasso stated that joining Itron would give his company "an opportunity to accelerate our mission of building resilience alongside the industry leader in technology for utilities."
The acquisition comes as utilities face increasing challenges from aging infrastructure and extreme weather events, situations where predictive AI technology can help prevent service disruptions and improve response times.
Itron provides intelligent infrastructure solutions to utilities and cities globally, with a focus on efficiency and reliable service delivery. The company’s shares are listed on the Nasdaq stock exchange.
In other recent news, Itron, Inc. has signed a new five-year, $750 million credit agreement, replacing its previous arrangement from 2018. This facility includes a multi-currency revolving line of credit, a $300 million standby letter of credit sub-facility, and a $50 million swingline sub-facility. Additionally, Itron has partnered with Current Lighting Solutions to deliver a smart lighting solution, integrating their CityEdge management technologies with Current’s LED fixtures. The American Samoa Power Authority will implement Itron’s Advanced Metering Infrastructure solution to enhance its electricity distribution network. This deployment aims to improve operational efficiency and billing accuracy for approximately 50,000 residents. Itron has also appointed Scott Drury, former CEO of Southern California Gas Company, to its board of directors. Furthermore, the Water Authority of Fiji has started deploying Itron’s smart water meters as part of its first smart metering project, expected to be completed in the third quarter of 2025.
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