Itron Expands Its End-to-End Solutions Portfolio with Acquisition of Asais

LIBERTY LAKE, Wash. — 8 December, 2010 — Itron Inc. (NASDAQ: ITRI) announced today that it has reached an agreement to acquire Asais, an energy information management software and consulting services provider, headquartered in France, for an undisclosed sum. The transaction is expected to be completed in the first quarter of 2011.

Asais is a leader in energy information management and multi-vendor data collection capabilities. For the past 25 years, the company has developed and implemented advanced energy information management solutions through state-of-the-art software and online services. Asais delivers competitive flexibility to every segment of the energy industry by providing customers with data collection, data analysis and smart grid management software solutions and services.

Itron has been partnering with Asais globally for the past four years. Joint projects include smart metering and smart grid initiatives with many major utilities across Europe, Africa and the Middle East. The acquisition enables Itron to offer integrated, end-to-end solutions with a strong expertise in energy information management and efficiency—fundamental components for success in today's utility industry.

Asais' leading data collection software will complement Itron's field-proven meter data management and analytics systems, creating a platform for successful smart metering deployments in Europe and across the globe. In return, Itron will provide Asais opportunities for accelerated growth into international markets. Asais' consultancy expertise will afford Itron's utility customers expanded options to optimize the management of their resources.

Marcel Regnier, senior vice president and chief operating officer, Itron International, said: "We are delighted to welcome Asais to our team and are very excited about this acquisition, as it strengthens our position as the leader in end-to-end smart grid and smart distribution solutions. Utilities today prefer to rely on a single, trusted partner for their energy management solutions. Thanks to this union of highly skilled teams, Asais and Itron will deliver invaluable experience and expertise in energy information management and data collection software. Together, Itron and Asais can provide flexible, scalable solutions for customers worldwide."

Thierry Poyatos, Asais managing director, commented, "This acquisition is the result of many years of working closely with Itron, a partnership that has already led to multiple major successes. Formally joining Itron is an exciting opportunity for our talented people, who now have the ability to demonstrate their smart grid and energy management skills on a global stage. Asais will continue to develop multi-vendor solutions in response to increasing demand for technologies that ensure interoperability. We are also committed to maintaining class-leading customer service for our existing clients who have put their trust in Asais for over a quarter century."