Itron, Inc. has signed an agreement to acquire privately held SmartSynch, Inc. in a transaction valued at $100 million. The acquisition will bring greater choice to utility customers across the spectrum of smart metering deployments and strengthen Itron’s integrated cellular communications offering. The parties expect the transaction to close in the second quarter of 2012.

SmartSynch, headquartered in Jackson, Mississippi, is a provider of point-to-point smart grid solutions that use a cellular network for communications. The company has more than 130 customers, including nine of the top ten utilities in North America. SmartSynch and Itron have partnered for more than a decade, delivering integrated solutions to some of Itron’s largest smart grid customers. Itron and SmartSynch’s complementary technologies can be used to provide a solution in areas where RF mesh networks are not available, or are cost prohibitive. In addition, SmartSynch’s technology will successfully meet the needs of full cellular smart grid network deployments, such as the 1.9 million electric residential and commercial & industrial meter end-point deployment at Consumers Energy.

Excluding amortization of acquired intangible assets, purchase accounting adjustments and acquisition related charges, the company anticipates that the acquisition will add approximately $50 million in revenues and be dilutive to non-GAAP net earnings per share by less than $0.10 for fiscal year 2012. The acquisition is anticipated to be accretive to revenue and non-GAAP earnings per share in fiscal year 2013.

Itron was advised on the transaction by Centerview Partners LLC. SmartSynch was advised by Stephens Inc.