September 18, 2017 / 11:33 AM / a month ago

Itron to buy Silver Spring for $830 mln

Sept 18 (Reuters) - Technology services company Itron Inc said on Monday it would buy Silver Spring Networks Inc in a deal valued at about $830 million.

Itron’s offer of $16.25 per share in cash represented a premium of 25 percent to Silver Spring’s Friday close.

The deal value of $830 million excludes $118 million of Silver Spring’s cash, the companies said. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Anil D‘Silva)

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