Ben Kallo

Noah Kaye

Scott Graham

Austin Moeller

Chip Moore

Jeffrey Osborne

Joseph Osha

Alfred Moore

Jeff Osborne

Kashy Harrison

Mark W. Strouse

Martin Malloy

Moses Sutton

Pavel Molchanov

- Itron, Inc. has signed a definitive agreement to **acquire Urbint, Inc.**, a privately held software company based in Miami, Florida.  **[780571_0001171843-25-006299_exh_991.htm:0]** **[780571_0001171843-25-006299_f8k_100625.htm:2]** 
- The purchase price for the acquisition is **$325 million** and will be funded through cash on hand.  **[780571_0001171843-25-006299_exh_991.htm:0]** **[780571_0001171843-25-006299_f8k_100625.htm:2]** 
- The transaction is **expected to close during the fourth quarter of 2025**.  **[780571_0001171843-25-006299_exh_991.htm:0]** **[780571_0001171843-25-006299_f8k_100625.htm:2]** 
- This acquisition is intended to enhance Itron's offerings with Urbint's **AI-powered operational resilience solutions** for utilities.  **[780571_0001171843-25-006299_exh_991.htm:0]** **[780571_0001171843-25-006299_f8k_100625.htm:2]**

Itron to Acquire Urbint

- Itron, Inc. (NASDAQ: ITRI) has signed a definitive agreement to acquire **Urbint, Inc.**, a privately held software company.  **[780571_b6a0ecbd40374545b337881014971730_0]** 
- The purchase price for the acquisition is **$325 million** and will be funded through cash on hand.  **[780571_b6a0ecbd40374545b337881014971730_0]** 
- The transaction is expected to close during the **fourth quarter of 2025**.  **[780571_b6a0ecbd40374545b337881014971730_0]** 
- This acquisition aims to enhance Itron's existing offerings with Urbint's **AI-powered operational resilience solutions** to help utilities and cities manage energy and water.  **[780571_b6a0ecbd40374545b337881014971730_0]**

- On **September 25, 2025**, Itron, Inc. entered into a **third amended and restated credit agreement** providing for **$750 million** in committed credit facilities.  **[780571_0001171843-25-006146_f8k_092625.htm:1]** 
- The facilities include a multi-currency revolving line of credit (Revolver) of **$750 million**, intended for **working capital and general corporate purposes**.  **[780571_0001171843-25-006146_f8k_092625.htm:1]** 
- The Revolver's principal is due on **September 25, 2030**, though this maturity date may be advanced to April 15, 2030, if Itron does not settle or extend a sufficient portion of its outstanding convertible notes.  **[780571_0001171843-25-006146_f8k_092625.htm:1]** 
- The Credit Agreement includes a covenant limiting the company to a maximum total net leverage ratio of **4.0x**, which can be increased by 0.75 for four consecutive fiscal quarters following an acquisition of at least $150 million.  **[780571_0001171843-25-006146_f8k_092625.htm:1]**

Itron, Inc. enters into new $750 million credit agreement

- **Itron** and Diehl have been selected as **LoRaWAN meter providers** for Severn Trent's program to deploy and manage network services for **one million smart meters** across more than **20 counties**.  **[780571_be496b5d63524b24b20ddbb658c9c3d8_0]** 
- The AMP8 contract, which went to tender in September 2024, had an estimated value of **£200 million** and an initial term of **3 years**.  **[780571_be496b5d63524b24b20ddbb658c9c3d8_0]** 
- The program aims to achieve a **16% reduction** in household water leakage and a **7% reduction** in household water use by **2030**.  **[780571_be496b5d63524b24b20ddbb658c9c3d8_1]**

Itron Selected for Severn Trent's Smart Water Meter Program

ITRON (ITRI)