Business Combinations |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Business Combination [Abstract] | |
| Business Combinations | Business Combinations During the fourth quarter of 2025 and the first quarter of 2026, we completed two acquisitions that, individually or in the aggregate, did not have a material impact on our results of operations, financial condition, or cash flows. Locusview, Ltd. On January 5, 2026, we completed the acquisition of 100% of the outstanding equity of Locusview, Ltd. and subsidiaries (collectively, Locusview) a privately held utility-focused software and services company that is based in the United States and Israel. The acquisition provides value to Itron through the leverage of Locusview's digital construction management solutions to enhance Itron's Resiliency Solutions offerings to its customers. The purchase price allocated to acquired assets and liabilities was $546.4 million, which was funded through cash on hand. Subsequent to the acquisition date, we made certain measurement period adjustments to the preliminary purchase price allocation, which resulted in an increase to goodwill of $367,000. The allocation of the purchase price to acquired assets and liabilities assumed remains preliminary. The areas that remain provisional primarily relate to income taxes and accrued liabilities. Urbint, Inc. On November 3, 2025, we completed the acquisition of 100% of the outstanding equity of Urbint, Inc. (Urbint), a privately held software and services company, based in Florida, serving utilities. The acquisition provides value to Itron through the leverage of Urbint's artificial intelligence (AI)-powered operational resilience solutions to enhance our offerings to our customers. Upon acquisition, Urbint became a wholly owned subsidiary of Itron and operates within the Resiliency Solutions segment. The purchase price allocated to acquired assets and liabilities was $330.6 million, which was funded through cash on hand. Subsequent to the acquisition date, we made certain measurement period adjustments to the purchase price allocation, which resulted in a decrease to goodwill of $397,000.
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