About Actaris: Actaris is a world leader in the design and manufacture of meters and associated systems for the electricity, gas, water and heat markets, providing innovative products and systems that integrate the latest technologies to meet the evolving needs of public or private energy and water suppliers, utility services and industrial companies worldwide.Īctaris is active in more than 30 countries, employs approximately 6,000 people in 60 locations and has 29 manufacturing sites worldwide. Itron creates value for its clients by providing industry-leading solutions for electricity metering meter data collection energy information management demand response load forecasting, analysis and consulting services distribution system design and optimization web-based workforce automation and enterprise and residential energy management. Nearly 3,000 utilities worldwide rely on Itron ’s award-winning technology to provide the knowledge they require to optimize the delivery and use of energy and water. About Itron: Itron is a leading technology provider and critical source of knowledge to the global energy and water industries. Mayer, Brown, Rowe & Maw LLP acted as legal advisor to Actaris. Gibson, Dunn & Crutcher LLP and Perkins Coie LLP acted as legal advisors to Itron. “There can be no doubt that this acquisition represents a historical turning point in the life of our company and a significant commitment on the part of our investors, ” commented Nosbaum. Bringing these companies together unites research and development, manufacturing and business synergies that no other provider can match. “These are both well-run companies that produce the highest quality products in very efficient and productive factories around the world. “This acquisition brings together two very talented management teams, including many individuals who have worked together in previous careers with Schlumberger, ” said Nosbaum. These estimates are subject to financing terms and dependent on the closing date of the transaction and do not take into effect any intangible amortization expenses, in-process research and development expenses, charges related to inventory revaluation required under purchase accounting or other acquisition expenses. Based on management ’s expectation for closing in the second quarter, Itron expects that in 2007 the acquisition will add approximately $720 - $730 million in revenue, $0.20 - $0.30 in non-GAAP EPS and $110 - $115 million Adjusted EBITDA. ” The acquisition of Actaris will be funded by approximately $1.1 billion of fully-committed senior secured debt facilities, the net proceeds of the private placement of approximately $235 million of common stock, which was completed February 25, 2007, and cash on hand.
0 kommentar(er)
