Itron Acquires Elpis Squared, Expands Grid Edge Intelligence Portfolio; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Itron, Inc. (NASDAQ:ITRI) has acquired Elpis Squared, a provider of software and services for utility grid operations, to expand its Grid Edge Intelligence portfolio. This acquisition aims to accelerate the energy transition by enhancing grid planning, operations, and engineering with Elpis Squared's expertise. Elpis Squared's solutions, including the RE|Grid Suite, will be integrated with Itron's solutions to improve grid modeling, analytics, and scenario planning, among other benefits. The combined offerings are expected to address operational challenges and support utilities in navigating the energy transition, with integrated solutions available in Q4 2024.
March 05, 2024 | 2:10 pm
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Itron's acquisition of Elpis Squared is expected to strengthen its Grid Edge Intelligence portfolio by adding advanced grid planning, operations, and engineering capabilities. This strategic move aims to enhance Itron's offerings to utilities, enabling them to better manage the complexities of the energy transition. The integration of Elpis Squared's solutions with Itron's existing portfolio is anticipated to deliver improved grid modeling, analytics, and scenario planning, potentially creating more value for Itron's customers and accelerating its product roadmap.
The acquisition directly impacts Itron by expanding its product offerings and capabilities in grid management and energy transition solutions. This strategic move is likely to be viewed positively by the market, as it positions Itron to better address the needs of utilities facing increasing grid complexity. The integration of Elpis Squared's innovative solutions could lead to enhanced product performance and customer satisfaction, potentially driving Itron's revenue growth and market position in the long term.
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