Itron : Spins Off Distribution Design Solutions to GeoSpatial Innovations
May 13, 2015 at 09:15 am EDT
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LIBERTY LAKE, Wash. and AUSTIN, Texas - May 13, 2015 - Itron, Inc. (NASDAQ: ITRI), a world-leading technology and services company dedicated to the resourceful use of energy and water, announced today the sale of its distribution design solutions to GeoSpatial Innovations, Inc., provider of cloud and mobile software to electric and natural gas utilities. The divesture allows Itron to focus on core markets and invest in new growth opportunities, while enabling GeoSpatial Innovations to expand its distribution design portfolio.
Itron's distribution design solutions, which will be acquired by GeoSpatial Innovations, include Distribution Design Studio (DDS), Distribution Staker, LD-Pro, LD-Field and LD-StructureCalc. The distribution design software and services allow utilities to improve efficiency and costs related to extending their overhead and underground infrastructure as their service territories and customer bases grow. GeoSpatial Innovations' GSI Designer tool, which is used for designing GPS-based overhead or underground electric lines in the field, is among the modules within DDS.
"GeoSpatial Innovations and Itron have worked together for over a decade now, helping utilities create cost-effective, state-of-the-art design environments," said Carl Livingood, president and founder of GeoSpatial Innovations. "We are excited that this experienced group of engineers and software developers are joining our team. Combining the resources and expertise of these two veteran teams presents a huge opportunity to improve on the already robust DDS offering and dramatically increase the level of support that we will be able offer our customers."
"This is a win-win situation for both GeoSpatial Innovations and Itron. GeoSpatial Innovations is in a great position to take our distribution design solutions to the next level," said Jeff Carkhuff, vice president of global solutions marketing for electricity at Itron. "This divesture gives Itron the opportunity to increase our focus on growth opportunities in analytics and managed services so we can help our customers better manage energy and water resources."
In order to ensure continuity of service, GeoSpatial Innovations will open a Liberty Lake office and Itron's distribution design employees will be transferred to the company.
Itron, Inc. provides energy, water, smart city, Industrial Internet of Things (IIoT) and intelligent infrastructure services. The Company operates in three segments. The Device Solutions segment primarily includes hardware products used for measurement, control, or sensing. Its Networked Solutions segment primarily includes a combination of communicating devices, network infrastructure, and associated head-end management and application software designed and sold as a complete solution for acquiring and transporting application-specific data. Its Outcomes segment includes its value-added, enhanced software and services, artificial intelligence, and machine learning in which it enable grid edge intelligence and manage, organize, analyze, and interpret raw, anonymized data to improve decision making. It is also engaged in embedding real-time, high-resolution grid edge data into the grid planning, operations and engineering process. Its solutions include technology, software and services.
ITRON, INC. 
