Fenwick & West represented Silver Spring Networks, Inc. (NYSE: SSNI), provider of Internet of Important Things™ connectivity platforms and solutions to utilities and cities, in its acquisition by Itron, Inc. (NASDAQ: ITRI), a world-leading technology and services company dedicated to the resourceful use of energy and water. Itron will acquire all outstanding shares of Silver Spring Networks for $16.25 per share in cash for a transaction value of approximately $830 million (net of acquired cash).
The acquisition is expected to have a positive impact on Itron’s long-term growth rate by adding more capabilities to their offerings and advancing their strategy to deliver highly secure, value-generating solutions for critical infrastructure within the IoT sector. More information about Silver Spring Networks’ acquisition by Itron can be obtained from the company announcement.
The Fenwick transaction team included corporate lawyers Dave Healy, Gordy Davidson, David Michaels, Rob Freedman, Bomi Lee, Niki Fang, Stephen Fisher, Maureen Montgomery, Caroline Wells, Noah Johnson, Kyle Canchola and Amy Zhang; technology transactions lawyers Stuart Meyer, Michael Riskin and Justin Baumli; antitrust lawyers Mark Ostrau and Ashley Walter; executive compensation and employee benefits lawyers Scott Spector, Marshall Mort, Mona Clee and Hans Andersson; and tax lawyers Andrew Kim and David de Ruig.