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4-Traders Homepage  >  Equities  >  Nasdaq  >  Itron, Inc.    ITRI

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Itron : Expands OpenWay Riva™ Ecosystem with Wasion Partnership

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01/18/2017 | 02:46pm CET

OpenWay Riva-enabled Wasion meters to expand customer choice and capabilities in global smart metering markets

Itron, Inc. (NASDAQ: ITRI), a world-leading technology and services company dedicated to the resourceful use of energy and water, announced today that it partnered with Wasion Group, a leading energy measurement instrument, system and service supplier in China, to expand Itron’s OpenWay Riva ecosystem. The companies will develop and deliver OpenWay Riva-enabled Wasion electricity meters to expand customer choice and capabilities in markets throughout the world.

Itron’s OpenWay Riva IoT solution provides distributed intelligence and computing power in meters and grid devices, enabling real-time analysis of data and peer-to-peer communication among intelligent devices at the edge of the network. The solution’s adaptive communications technology delivers high-performance communications with assured connectivity using one unified network and communication solution. The standards-based, highly secure network can readily accept new devices from a growing ecosystem of third-party technologies, now including the OpenWay Riva-enabled Wasion meter.

With OpenWay Riva technology embedded in Wasion electricity meters, utilities will have another choice of metering platform to enable highly differentiated capabilities and value for their smart metering projects. These capabilities include high-performance communications with assured connectivity in all types of services environments as well as data processing power in edge devices to provide unprecedented grid awareness that extends to every service delivery point. These capabilities enable OpenWay Riva-equipped meters to deliver applications that provide significant improvements in grid reliability, efficiency and safety, as well as a powerful platform to deliver new services to customers.

Wasion Group is the leading supplier of high-end measurement products in China and provides metering technology to utilities throughout the world. The group is the only domestic professional manufacturer that supplies various advanced energy measurement products, systems and services, and covers energy production and transmission & distribution demands.

“With this collaboration, Itron is expanding the OpenWay Riva ecosystem by providing a range of new metering options for our customers throughout the world. This collaboration further validates the value and flexibility of our OpenWay Riva solution, which allows meter manufacturers, technology partners, and service providers to join the ecosystem and bring to market IoT solutions for utilities and smart cities,” said Jeff Carkhuff, vice president of global solutions marketing for electricity at Itron. “By taking a platform and ecosystem approach to our OpenWay Riva solution, we’re able to expand the business case benefits to our utility customers substantially over the life of their systems.”

“By participating in Itron’s OpenWay Riva ecosystem, Wasion Group has access to game-changing technology that makes our electric meters even smarter. And our collaboration with Itron will expand our already growing market presence to areas around the world,” said Zheng Xiao Ping, president of Wasion Group. “We are glad to join forces with Itron, a world-leader that delivers technology and services, to limit waste and empower the resourceful use of energy and water.”

About Itron

Itron is a world-leading technology and services company dedicated to the resourceful use of energy and water. We provide comprehensive solutions that measure, manage and analyze energy and water. Our 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. With thousands of employees supporting nearly 8,000 customers in more than 100 countries, Itron applies knowledge and technology to better manage energy and water resources. Together, we can create a more resourceful world. Join us: www.itron.com.

Itron® and OpenWay® are registered trademarks of Itron, Inc. All third party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

About Wasion Group

Wasion Group is a leading energy measurement instrument, system and service supplier in China. Listed on main board of Hong Kong Stock Exchange in December 2005, it is the first professional group in energy metering and energy-saving in China that listed outside mainland China, and the first company in Hunan Province that listed on main board outside mainland China. In 2015, its sales revenue reached nearly 3 billion Yuan and it paid a total of over 350 million Yuan in taxes. Currently, its products are exported to more than 20 countries and regions, and established friendly and cooperative relations with more than 40 countries and regions. Wasion’s product quality is widely recognized by users.


© Business Wire 2017
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Financials ($)
Sales 2016 2 006 M
EBIT 2016 129 M
Net income 2016 34,0 M
Debt 2016 142 M
Yield 2016 -
P/E ratio 2016 70,66
P/E ratio 2017 28,28
EV / Sales 2016 1,24x
EV / Sales 2017 1,14x
Capitalization 2 345 M
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Average target price 69,0 $
Spread / Average Target 13%
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Philip C. Mezey President, Chief Executive Officer & Director
Lynda L. Ziegler Chairman
Thomas L. Deitrich Chief Operating Officer & Executive Vice President
William Mark Schmitz Chief Financial Officer & Executive Vice President
Chuck McAtee Chief Information Officer
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