ITRI - Itron announces sale of its gas regulator and European metering businesses

Itron (NASDAQ:ITRI) reaches deal to sell off its global gas regulator business and European commercial & industrial gas metering business to Dresser Utility Solutions. Terms of the transaction not disclosed. "This agreement is a win for our customers, as well as Dresser Utility Solutions and Itron. Our customers and partners will benefit from working with a trusted gas industry leader with over a century of experience in manufacturing technologies for the utility industries. For Itron, it enables us to increase our focus on innovative static, communication-capable assets and outcomes for gas, water and electric utilities," says Justin Patrick, Itron’s SVP of Device Solutions. As part of the sale, the existing employees will continue under Dresser Utility Solutions. The transaction is expected to close in 1H 2022, subject to customary closing conditions. "Itron's Supply Challenges Reset The Story, But Long-Term Drivers Still In Play," writes Stephen Simpson on Seeking Alpha.

For further details see:

Itron announces sale of its gas regulator and European metering businesses