SPOKANE, Wash., October 3, 2002 — Itron Inc. has completed the acquisition of both Regional Economic Research Inc. (RER) and eMobile Data Corp.
Regional Economic Research Inc. is a San Diego-based company specializing in energy consulting, analysis and forecasting services and software. Itron acquired RER for $14 million in cash with potential earnout payments of $2 million in 2003 and 2004, subject to the achievement of certain revenue targets.
eMobile Data Corp. is a provider of wireless, Web-based workforce management solutions for the utility industry. Itron acquired the company for $6.2 million in cash, subject to a working capital adjustment post-closing.
Both acquisitions closed Oct. 1.
Itron is a technology provider and critical source of knowledge to the global energy and water industries. More than 2,000 utilities worldwide rely on Itron technology to deliver the knowledge they require to optimize the delivery and use of energy and water.
Itron delivers value to its clients by providing industry-leading solutions for meter data collection, energy information management, C&I customer care, load management and demand response, transmission and distribution system design software and services, and web-based workforce automation.
For more information, contact: Mima Scarpelli Vice-president, Investor Relations and Corporate Communications (509) 891-3565 firstname.lastname@example.org Itron’s website can be found at www.itron.com.