Energy and water resource management company Itron acquired smart grid technology firm SmartSynch on Thursday for $100m, granting exits to investors including electronics and appliances corporation Siemens, financial services firm JP Morgan and research NPO the Battelle Memorial Institute.
SmartSynch had raised more than $80m in equity and $36.7m in debt financing since it was founded in 2000, with investors also including Beacon Group Investment, OPG Ventures, Kinetic Ventures, Riverside Investments, Endeavor Capital Partners, Cinergy Ventures, Nth Power, Lime Rock Partners, Gulfsouth Capital and Exelon Capital Partners.