) recently partnered with leading smart grid solutions provider
PrimeStone to offer their energy solutions to the customers in
Latin America. The partnership intends to provide a wide range of
smart metering and smart grid solutions to the customers, which
will help in better management of energy distribution.
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Colombia-based PrimeStone is a leading software development company
that provides Smart Grid applications and solutions. The solutions
help in data collection, validation, management, control and
information exchange between meters and other devices for the power
Both the companies will provide advanced smart grid solutions of
Itron to the utilities and will empower them to better address
challenges arising from soaring demand, aging infrastructure and
Moreover, Itron's technology enables end users better manage energy
usage while keeping down costs. Alongside, the technology provides
secure and reliable data collection platform as well as a two-way
communication system between the utility and its customers. Most
importantly, the technology includes a robust tool that helps
The deal will augment the wide smart grid solution portfolio of
Itron as it will add PrimeRead Energy Suite (residential,
commercial and industrial meters) of PrimeStone to its portfolio.
Therefore, with a broader product portfolio, Itron will be able to
cater to a wider client base in Latin America.
The utilities in Latin America will also benefit from PrimeRead's
Data Collection Engine that helps in validating, estimating and
editing engine to process data collected through the meters. The
PrimeGrid and PrimeGuard solutions will help utilities in revenue
protection against theft and undetected losses.
Itron is successfully enhancing its global footprint by providing
its solutions that has wide acceptance among the customers.
Recently, it has introduced OpenWay AURUM in Brazil which will
accomplish the objective of business by reducing costs, improving
services and protecting revenues. In addition, it secured a
contract from E.ON in Hungary to provide more than 7,600 smart
meters to the company.
Itron faces tough competition from a large number of companies
offering similar products, systems, and services. Some of its
well-known competitors are
General Electric Company
Badger Meter Inc.
Itron retains a short-term Zacks#3 Rank (Hold). We have a long-term
Neutral recommendation on the stock.