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February 27, 2007

Itron to buy Euro company for $1.6B

LIBERTY LAKE (AP) — Itron Inc., a leading supplier of electricity meters in North America, has announced a $1.6 billion deal to acquire Actaris Metering Systems of Europe.

The agreement, financed partly by the sale of more than four million shares of Itron stock to 10 institutional investors to raise about $235 million, will more than double the Spokane-area company's income while expanding its reach to about 300 million Actaris electricity, gas and water meters in 30 countries, according to a news release issued Sunday.


 
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