<SEC-DOCUMENT>0001157523-18-000026.txt : 20180105
<SEC-HEADER>0001157523-18-000026.hdr.sgml : 20180105
<ACCEPTANCE-DATETIME>20180105110042
ACCESSION NUMBER:		0001157523-18-000026
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180103
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180105
DATE AS OF CHANGE:		20180105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ITRON INC /WA/
		CENTRAL INDEX KEY:			0000780571
		STANDARD INDUSTRIAL CLASSIFICATION:	INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825]
		IRS NUMBER:				911011792
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22418
		FILM NUMBER:		18512419

	BUSINESS ADDRESS:	
		STREET 1:		2111 N MOLTER ROAD
		CITY:			LIBERTY LAKE
		STATE:			WA
		ZIP:			99019
		BUSINESS PHONE:		5099249900

	MAIL ADDRESS:	
		STREET 1:		2111 N MOLTER ROAD
		CITY:			LIBERTY LAKE
		STATE:			WA
		ZIP:			99019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ITRON INC
		DATE OF NAME CHANGE:	19920724
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51737696.htm
<DESCRIPTION>ITRON, INC. 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-family: Times New Roman; font-size: 12pt"></font><font style="font-family: Times New Roman; font-size: 12pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Washington,
      D.C. 20549</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>FORM 8-K</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Current
      Report</b></font><b><font style="font-family: Times New Roman; font-size: 18pt">
      </font><font style="font-family: Times New Roman; font-size: 12pt">Pursuant
      to Section 13 or 15(d) of the</font></b><br><font style="font-family: Times New Roman; font-size: 12pt"><b>Securities
      Exchange Act of 1934</b></font>
    </p>
    <p style="text-align: center">
      <b>Date of report (Date of earliest event reported): January 3, 2018</b>
    </p>
    <p style="text-align: center">

    </p>
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          &#160;
        </td>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 18pt"><b>ITRON, INC.</b></font>
          </p>
        </td>
        <td style="width: 25%">

        </td>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(Exact name of registrant as specified in its charter)</i>
          </p>
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    <p style="text-align: center">

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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Washington</b>
          </p>
        </td>
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          &#160;
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>000-22418</b>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 5%; text-align: left">
          &#160;
        </td>
        <td valign="bottom" style="padding-right: 0.0px; padding-left: 0.0px; width: 30%; white-space: nowrap; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>91-1011792</b>
          </p>
        </td>
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        <td valign="bottom" style="padding-left: 0.0px; width: 30%; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(State or Other Jurisdiction of</i><br><i>Incorporation)</i>
          </p>
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        <td style="width: 5%">

        </td>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(Commission File Number)</i>
          </p>
        </td>
        <td style="width: 5%">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; width: 30%; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(IRS Employer Identification</i><br><i>Number)</i>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="font-family: Times New Roman; width: 95%; font-size: 10pt; margin-left:auto;margin-right:auto; margin-bottom: 10.0px">
      <tr>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2111 N. Molter Road, Liberty Lake, WA&#160;&#160;99019</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(Address of principal executive offices including zip code)</i>
          </p>
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    <table cellspacing="0" style="font-family: Times New Roman; width: 95%; font-size: 10pt; margin-left:auto;margin-right:auto; margin-bottom: 10.0px">
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(509) 924-9900</b>
          </p>
        </td>
      </tr>
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        <td valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>(Registrant&#8217;s telephone number, including area code)</i>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">

    </p>
    <p style="text-align: justify">
      Check the appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions (see General Instruction A.2. below):
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <hr style="width: 100%; color: #000000; text-align: center; height: 1.0 pt">
    <hr style="width: 100%; color: #000000; text-align: center; height: 3.0 pt">


    <p>

    </p>
    <p style="text-align: justify">
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
      &#167;230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR
      &#167;240.12b-2).
    </p>
    <p style="text-align: left">
      Emerging growth company <font style="font-size: 10pt">&#9744;</font>
    </p>
    <p>
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act. <font style="font-size: 10pt">&#9744;</font>
    </p>
    <p>

    </p>
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        <div style="text-align: right">

        </div>
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    </div>
    <p>

    </p>
    <p>
      <b>Item 2.01 Completion of Acquisition or Disposition of Assets.</b>
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      On January 5, 2018, pursuant to the previously announced Agreement and
      Plan of Merger, dated as of September 17, 2017 (the &#8220;Merger Agreement&#8221;),
      by and among Itron, Inc., a Washington corporation (&#8220;Itron&#8221;), Silver
      Spring Networks, Inc., a Delaware corporation (&#8220;Silver Spring&#8221;), and
      Ivory Merger Sub, Inc., a Delaware corporation and wholly-owned
      subsidiary of Itron (&#8220;Acquisition Sub&#8221;), Acquisition Sub was merged with
      and into Silver Spring, with Silver Spring continuing as the surviving
      corporation (the &#8220;Merger&#8221;). At the effective time of the Merger (the
      &#8220;Effective Time&#8221;), Silver Spring became a wholly-owned subsidiary of
      Itron. Effective as of the Effective Time, Silver Spring changed its
      name to &#8220;Itron Networked Solutions, Inc.&#8221;
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      Pursuant to the Merger Agreement, each share of common stock, par value
      $0.001 per share, of Silver Spring (each, a &#8220;Silver Spring Share&#8221;) that
      was outstanding as of immediately prior to the Effective Time, other
      than Silver Spring Shares held by stockholders who have validly
      exercised their appraisal rights under Delaware law, Silver Spring
      Shares held by Itron, Acquisition Sub and Silver Spring or their
      respective subsidiaries or Silver Spring Shares subject to outstanding
      restricted stock awards and performance stock units, was converted into
      the right to receive $16.25 in cash (the &#8220;Merger Consideration&#8221;),
      without interest thereon.
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      At the Effective Time, each option to purchase Silver Spring Shares that
      was outstanding as of immediately prior to the Effective Time (each, a
      &#8220;Silver Spring Option&#8221;) was treated as follows.
    </p>
    <ul style="font-family: Times New Roman; margin-left: 30.0px; font-size: 10pt; text-align: justify">
      <li style="margin-bottom: 10.0px">
        Each unvested Silver Spring Option that had a per share exercise price
        that was less than the Merger Consideration, and that was held by a
        current service provider (other than a non-employee member of the
        board of directors of Silver Spring), was assumed by Itron at the
        Effective Time and was converted into and became an option to acquire
        common stock, no par value, of Itron (&#8220;Itron Share&#8221;) (each such
        option, an &#8220;Adjusted Option&#8221;), on the same material terms and
        conditions as were applicable under the corresponding Silver Spring
        Option immediately prior to the Effective Time. The number of Itron
        Shares subject to each Adjusted Option was determined by multiplying
        the number of Silver Spring Shares subject to such corresponding
        Silver Spring Option by the quotient obtained by dividing (i) the
        Merger Consideration by (ii) a volume-weighted average of the trading
        prices of Itron Shares for ten trading days preceding (and including)
        January 5, 2018 (the &#8220;Exchange Ratio&#8221;). The per share exercise price
        for Itron Shares issuable upon exercise of each Adjusted Option was
        determined by dividing the applicable per share exercise price of the
        corresponding Silver Spring Option by the Exchange Ratio.
      </li>
      <li style="margin-bottom: 10.0px">
        Each Silver Spring Option that had a per share exercise price that was
        less than the Merger Consideration and that either: (i) was vested or
        (ii) was unvested and held by an non-employee member of the board of
        directors of Silver Spring, was not assumed by Itron and was cancelled
        at the Effective Time in exchange for a payment of an amount in cash,
        less applicable withholding taxes, equal to the product of the (A)
        aggregate number of Silver Spring Shares subject to such Silver Spring
        Option multiplied by the (B) excess of the Merger Consideration over
        the applicable per share exercise price of such vested Silver Spring
        Option.
      </li>
      <li style="margin-bottom: 10.0px">
        Each Silver Spring Option, whether vested or unvested, that had a per
        share exercise price that was equal to or greater than the Merger
        Consideration, became vested and exercisable by the holder thereof
        and, each such Silver Spring Option was, to the extent not exercised
        as of the Effective Time, cancelled at the Effective Time with no
        payment made therefor.
      </li>
    </ul>
    <p style="text-align: justify; text-indent: 30.0px">
      At the Effective Time, each Silver Spring restricted stock unit award
      that was outstanding as of immediately prior to the Effective Time
      (each, a &#8220;Silver Spring RSU&#8221;) was treated as follows.
    </p>
    <ul style="font-family: Times New Roman; margin-left: 30.0px; font-size: 10pt; text-align: justify">
      <li style="margin-bottom: 10.0px">
        Each unvested Silver Spring RSU that was held by a current service
        provider (other than Silver Spring RSUs held by a non-employee member
        of the board of directors of Silver Spring) was assumed by Itron at
        the Effective Time and converted into a restricted stock unit to
        receive, on substantially the same terms and conditions as were
        previously applicable to such Silver Spring RSU, a number of Itron
        Shares equal to the number of Silver Spring Shares that were subject
        to such Silver Spring RSU multiplied by the Exchange Ratio (each, an
        &#8220;Adjusted RSU&#8221;).
      </li>
      <li style="margin-bottom: 10.0px">
        Each vested Silver Spring RSU and each unvested Silver Spring RSU held
        by a non-employee member of the board of directors of Silver Spring
        was not assumed by Itron and at the Effective Time was converted into
        the right to receive the Merger Consideration in cash, less applicable
        withholding taxes, for each Silver Spring Share subject to such Silver
        Spring RSU.
      </li>
    </ul>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="font-family: Times New Roman; font-size: 10pt; text-indent: 30.0px">

    </p>
    <p style="font-family: Times New Roman; font-size: 10pt; text-indent: 30.0px">
      At the Effective Time, each Silver Spring performance stock unit award
      (each, a &#8220;Silver Spring PSU&#8221;) that was outstanding as of immediately
      prior to the Effective Time was treated as follows.
    </p>
    <ul style="font-family: Times New Roman; margin-left: 30.0px; font-size: 10pt; text-align: justify">
      <li style="margin-bottom: 10.0px">
        Each Silver Spring PSU granted during 2015 (each, a &#8220;Silver Spring
        2015 PSU&#8221;) that was outstanding as of immediately prior to the
        Effective Time terminated without the payment of any consideration
        therefor and the holders of such terminated Silver Spring 2015 PSUs
        ceased to have any rights with respect thereto.
      </li>
      <li style="margin-bottom: 10.0px">
        For each Silver Spring PSU granted during 2017 (each, a &#8220;Silver Spring
        2017 PSU&#8221;), that was outstanding as of immediately prior to the
        Effective Time, the performance conditions were deemed satisfied at
        100% of the target level of achievement and (i) the portion of each
        such Silver Spring 2017 PSU that was outstanding and unvested as to
        service-based vesting conditions was treated as an Adjusted RSU, and
        (ii) the portion of each Silver Spring 2017 PSU that was outstanding
        and vested as to both performance conditions and service-based
        conditions was cancelled and automatically converted at the Effective
        Time into the right to receive the Merger Consideration in cash, less
        applicable withholding taxes, for each Silver Spring Share subject to
        such fully-vested Silver Spring 2017 PSU.
      </li>
    </ul>
    <p style="font-family: Times New Roman; font-size: 10pt; text-align: justify; text-indent: 30.0px">
      The aggregate total purchase price (net of acquired cash) paid by Itron
      pursuant to the Merger Agreement was approximately $830 million. The
      transaction was funded from cash on hand, the net proceeds from Itron&#8217;s
      private offering of $300 million in aggregate principal amount of 5.000%
      senior notes due 2026, and the refinancing of Itron's existing $650
      million term loan facility.
    </p>
    <p style="font-family: Times New Roman; font-size: 10pt; text-indent: 30.0px">
      The foregoing description of the Merger Agreement and the Merger is only
      a summary, does not purport to be complete and is qualified in its
      entirety by reference to the Merger Agreement, which was filed as
      Exhibit 2.1 to Itron&#8217;s Current Report on Form 8-K filed with the
      Securities and Exchange Commission (the &#8220;SEC&#8221;) on September 18, 2017,
      and which is incorporated herein by reference. &#160;&#160;
    </p>
    <p style="white-space: nowrap; text-align: justify; text-indent: 60.0px">

    </p>
    <p style="text-align: justify">
      <b>Item 8.01 Other Events.</b>
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      On January 3, 2018, Itron and Silver Spring issued a joint press release
      announcing that, at a special meeting of the stockholders of Silver
      Spring, Silver Spring&#8217;s stockholders voted in favor of a proposal to
      adopt the Merger Agreement and approve the Merger, which is filed as
      Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
    </p>
    <p style="text-align: justify; text-indent: 30.0px">
      On January 5, 2018, Itron issued a press release announcing the
      completion of the Merger, which is filed as Exhibit 99.2 to this Form
      8-K and is incorporated herein by reference.
    </p>
    <p style="text-align: justify; text-indent: 30.0px">

    </p>
    <p>
      <b>Item&#160;9.01 Financial Statements and Exhibits.</b>
    </p>
    <p>
      <i><b>(b) Pro Forma Financial Information. </b></i>
    </p>
    <p style="font-family: Times New Roman; font-size: 10pt; text-indent: 30.0px">
      Itron intends to file the pro forma financial information required by
      Item&#160;9.01(b) as an amendment to this Current Report on Form 8-K no later
      than 71 days after the required filing date for this Current Report on
      Form 8-K.
    </p>
    <p style="white-space: nowrap; text-indent: 30.0px">
      (d) &#160;&#160;&#160;&#160;&#160;&#160;Exhibits
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit</b><br><b>No.</b>
          </p>
        </td>
        <td style="width: 2%">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; width: 15%; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; border-bottom-color: black">
          <b>Exhibit Description</b>
        </td>
        <td style="width: 70%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; padding-left: 0.0px; width: 13%; white-space: nowrap; text-align: center">
          99.1
        </td>
        <td style="width: 2%">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left" colspan="2">
          Joint Press Release, dated January 3, 2018
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; padding-left: 0.0px; width: 13%; white-space: nowrap; text-align: center">
          99.2
        </td>
        <td style="width: 2%">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Joint Press Release, dated January 5, 2018
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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        <div style="text-align: left">

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        <div style="text-align: center">

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          <hr style="color: black; height: 1.5pt">

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      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: left">
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      Registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.
    </p>
    <p>

    </p>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            Date: January 5, 2018
          </p>
        </td>
        <td colspan="2">

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      </tr>
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        <td style="width: 60%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 60%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 60%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            ITRON, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 60%">

        </td>
        <td style="width: 5%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 35%; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; width: 60%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; width: 5%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 35%; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; border-bottom-color: black">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Shannon Votava
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 60%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 5%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 35%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Shannon Votava
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 60%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 5%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 35%; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Senior Vice President, General Counsel and<br>Corporate Secretary
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
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        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <b>EXHIBIT INDEX</b>
    </p>
    <p style="text-align: left">
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-family: Times New Roman; width: 100%; font-size: 10pt; margin-bottom: 10.0px">
      <tr>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit</b><br><b>No.</b>
          </p>
        </td>
        <td style="width: 2%">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; width: 15%; border-bottom-style: solid; border-bottom-width: 1.0pt; text-align: left; border-bottom-color: black">
          <b>Exhibit Description</b>
        </td>
        <td style="width: 70%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; padding-left: 0.0px; width: 13%; white-space: nowrap; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51737696_ex991.htm">99.1</a>
          </p>
        </td>
        <td style="width: 2%">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51737696_ex991.htm">Joint Press Release, dated January
            3, 2018</a>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; padding-left: 0.0px; width: 13%; white-space: nowrap; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51737696_ex992.htm">99.2</a>
          </p>
        </td>
        <td style="width: 2%">

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <a href="a51737696_ex992.htm">Press Release, dated January 5, 2018</a>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p style="text-align: left">

    </p>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51737696_ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Silver
      Spring Networks Stockholders Approve Merger with Itron</b></font>
    </p>
    <p>
      LIBERTY LAKE, Wash. &amp; SAN JOSE, Calif.--(BUSINESS WIRE)--January 3,
      2018--Itron, Inc. (NASDAQ: ITRI) and Silver Spring Networks, Inc. (NYSE:
      SSNI)&#160;today announced that Silver Spring Networks stockholders have
      approved the previously announced merger with Itron. Silver Spring
      Networks and Itron expect the transaction to close on or about Jan. 4,
      2018.
    </p>
    <p>
      At the special meeting of stockholders, approximately 68 percent of the
      outstanding shares of common stock entitled to vote at the meeting voted
      in favor of the proposal to adopt the merger agreement and approve the
      merger, based on the preliminary results of voting. The final results of
      voting will be reported in a Current Report on Form 8-K to be filed with
      the Securities and Exchange Commission.
    </p>
    <p>
      <b>About Itron</b>
    </p>
    <p>
      Itron is a world-leading technology and services company dedicated to
      the resourceful use of energy and water. We provide comprehensive
      solutions that measure, manage and analyze energy and water. Our broad
      product portfolio includes electricity, gas, water and thermal energy
      measurement devices and control technology; communications systems;
      software; as well as managed and consulting services. With thousands of
      employees supporting nearly 8,000 customers in more than 100 countries,
      Itron applies knowledge and technology to better manage energy and water
      resources. Together, we can create a more resourceful world. Join us: <u>www.itron.com</u>.
    </p>
    <p>
      Itron<sup>&#174;</sup> is a registered trademark of Itron, Inc. All
      third party trademarks are property of their respective owners and any
      usage herein does not suggest or imply any relationship between Itron
      and the third party unless expressly stated.
    </p>
    <p>
      <b>About Silver Spring Networks</b>
    </p>
    <p>
      Silver Spring Networks enables the Internet of Important Things&#8482; by
      reliably and securely connecting things that matter. Cities, utilities,
      and companies on five continents use the company&#8217;s cost-effective,
      high-performance IoT network and data platform to operate more
      efficiently, get greener, and enable innovative services that can
      improve the lives of millions of people. With more than 27.3 million
      devices delivered, Silver Spring Networks provides a proven
      standards-based platform safeguarded with military grade security.
      Silver Spring Networks&#8217; customers include Baltimore Gas &amp; Electric,
      CitiPower &amp; Powercor, ComEd, Consolidated Edison, CPS Energy, Florida
      Power &amp; Light, Pacific Gas &amp; Electric, Pepco Holdings, and Singapore
      Power. Silver Spring Networks has also deployed networks in Smart Cities
      including Copenhagen, Glasgow, Paris, Providence, and Stockholm. To
      learn more, visit&#160;<u>www.ssni.com</u>.
    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Forward Looking Statements</b>
    </p>
    <p>
      This release contains forward-looking statements within in the meaning
      of the Private Securities Litigation Reform Act of 1995, including but
      not limited to statements regarding the expected timing of the
      completion of the previously announced pending acquisition of Silver
      Spring Networks by Itron. Statements that include words such as
      &#8220;anticipates,&#8221; &#8220;expects,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;predicts,&#8221; &#8220;believes,&#8221;
      &#8220;seeks,&#8221; &#8220;estimates,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;would,&#8221; &#8220;potential,&#8221;
      &#8220;continue,&#8221; &#8220;goals,&#8221; &#8220;targets&#8221; and variations of these words (or
      negatives of these words) or similar expressions of a future or
      forward-looking nature identify forward-looking statements. In addition,
      any statements that refer to projections or other characterizations of
      future events or circumstances, including any underlying assumptions are
      forward-looking statements. Although we believe the estimates and
      assumptions upon which these forward-looking statements are based are
      reasonable, any of these estimates or assumptions could prove to be
      inaccurate and the forward-looking statements based on these estimates
      and assumptions could be incorrect. Important factors and uncertainties
      that could cause actual results to differ materially from those
      described in these forward-looking statements include, without
      limitation: uncertainties as to the timing of the transaction; the
      conditions to the completion of the transaction may not be satisfied;
      legal proceedings that may be instituted against Itron or Silver Spring
      Networks and others following announcement of the proposed transaction;
      and other factors detailed in Silver Spring Networks&#8217; Annual Report on
      Form 10-K filed with the U.S. Securities and Exchange Commission (the
      &#8220;SEC&#8221;) for the fiscal year ended Dec. 31, 2016 and Silver Spring
      Networks&#8217; other filings with the SEC, which are available at <u>http://www.sec.gov</u>
      and on Silver Spring Networks&#8217; website at <u>www.ssni.com</u>; and
      other factors discussed in Itron&#8217;s Annual Report on Form 10-K filed with
      the SEC for the year ended Dec. 31, 2016 and Itron&#8217;s other filings with
      the SEC, which are available on Itron&#8217;s website at <u>www.itron.com</u>.
      Itron and Silver Spring Networks assume no obligation to update the
      information in this communication, except as otherwise required by law.
      Readers are cautioned not to place undue reliance on these
      forward-looking statements that speak only as of the date hereof.
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br><b>Itron, Inc.</b><br>Barbara Doyle<br>Vice President,
      Investor Relations<br>509-891-3443<br><u>barbara.doyle@itron.com</u><br>or<br>Angela
      Lockwood<br>Director, Public Relations<br>509-891-3816<br><u>angela.lockwood@itron.com</u><br>or<br><b>Silver
      Spring Networks</b><br>Media Contact:<br>Marina Donovan<br>Vice
      President, Marketing<br>669-770-4852<br><u>mdonovan@ssni.com</u><br>or<br>Investor
      Contact:<br>Mark McKechnie<br>Vice President, Investor Relations<br>669-770-4664<br><u>markm@ssni.com</u>
    </p>
    <p>

    </p>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>a51737696_ex992.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.2</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Itron
      Completes Acquisition of Silver Spring Networks to Drive Innovation and
      Growth in IoT</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 12pt"><b>Industry-defining
      acquisition advances ability to deliver more value-added services and
      outcomes-based solutions to utilities and smart cities worldwide</b></font></i>
    </p>
    <p>
      LIBERTY LAKE, Wash.--(BUSINESS WIRE)--January 5, 2018--Itron, Inc.
      (NASDAQ: ITRI), a world-leading technology and services company
      dedicated to the resourceful use of energy and water, announced today
      that it has completed its acquisition of Silver Spring Networks, Inc.
    </p>
    <p>
      With this acquisition, Itron strengthens its ability to deliver a
      broader set of solutions, increase the pace of growth and innovation in
      the smart city and industrial IoT markets, and provide customers with
      greater choice and flexibility when deploying technology to improve
      their operations and services.
    </p>
    <p>
      &#8220;The addition of Silver Spring Networks comes at a time when industry
      dynamics are changing: utilities and cities want to invest in IoT and
      connectivity to modernize critical infrastructure to reduce operating
      expenses, enhance services and create new revenue opportunities,&#8221; said
      Philip Mezey, Itron&#8217;s president and chief executive officer. &#8220;This
      acquisition enhances Itron&#8217;s capabilities and advances our strategy of
      delivering highly-secure, value-generating solutions for utilities,
      smart cities and the broader industrial IoT sector.&#8221;
    </p>
    <p>
      By integrating Silver Spring Networks&#8217; platform and solutions, including
      its smart street light offering, into Itron&#8217;s broad portfolio, the
      combined expertise in delivering smart utility, smart city and
      industrial IoT solutions provides the industry with an unparalleled
      offering. With a focus on open-standards platform development for
      connectivity and automation, alongside a robust partner ecosystem, Itron
      is ideally positioned to promote a path for adoption of IoT technology
      and to more reliably, efficiently and securely connect devices that
      matter.
    </p>
    <p>
      &#8220;This is a tremendous step forward for Itron and our growth as a
      company,&#8221; continued Mezey. &#8220;Bringing together our two companies ties
      directly to Itron&#8217;s strategy to deliver valuable outcomes to our
      customers as they manage the world&#8217;s energy and water resources&#8212;and
      build the cities of tomorrow. Together, our strong engineering talent,
      leading technology and deep domain expertise will unlock incredible
      innovation, choice and value for customers around the world.&#8221;
    </p>
    <p>
      The legacy Silver Spring Networks business is now a wholly-owned
      subsidiary of Itron, Inc. and will be integrated and reported as a new
      business segment, Itron Networked Solutions.
    </p>
    <p>
      Itron will provide total consolidated company revenue and non-GAAP
      earnings per share guidance for full-year 2018, inclusive of the
      addition of Silver Spring Networks, in conjunction with its fourth
      quarter and full-year 2017 financial results.
    </p>
    <div style="margin-left: 0pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>About Itron</b>
    </p>
    <p>
      Itron is a world-leading technology and services company dedicated to
      the resourceful use of energy and water. We provide comprehensive
      solutions that measure, manage and analyze energy and water. Our broad
      product portfolio includes electricity, gas, water and thermal energy
      measurement devices and control technology; communications systems;
      software; as well as managed and consulting services. With thousands of
      employees supporting nearly 8,000 customers in more than 100 countries,
      Itron applies knowledge and technology to better manage energy and water
      resources. Together, we can create a more resourceful world. Join us: <u>www.itron.com</u>.
    </p>
    <p>
      Itron<sup>&#174;</sup> is a registered trademark of Itron, Inc. All
      third-party trademarks are property of their respective owners and any
      usage herein does not suggest or imply any relationship between Itron
      and the third party unless expressly stated.
    </p>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      This release contains forward-looking statements within in the meaning
      of the Private Securities Litigation Reform Act of 1995. These
      statements relate to our expectations about revenues, operations,
      financial performance, earnings, earnings per share and cash flows, as
      well as the integration of Silver Spring Networks. Although we believe
      the estimates and assumptions upon which these forward-looking
      statements are based are reasonable, any of these estimates or
      assumptions could prove to be inaccurate and the forward-looking
      statements based on these estimates and assumptions could be incorrect.
      Our operations involve risks and uncertainties, many of which are
      outside our control, and any one of which, or a combination of which,
      could materially affect our results of operations and whether the
      forward-looking statements ultimately prove to be correct. Actual
      results and trends in the future may differ materially from those
      suggested or implied by the forward-looking statements depending on a
      variety of factors. Some of the factors that we believe could affect our
      results include our ability to achieve estimated cost savings, the rate
      and timing of customer demand for our products, rescheduling of current
      customer orders, changes in estimated liabilities for product
      warranties, adverse impacts of litigation, changes in laws and
      regulations, our dependence on new product development and intellectual
      property, future acquisitions, changes in estimates for stock-based and
      bonus compensation, increasing volatility in foreign exchange rates,
      international business risks and other factors that are more fully
      described in our Annual Report on Form 10-K for the year ended December
      31, 2016 and other reports on file with the Securities and Exchange
      Commission. Itron undertakes no obligation to update or revise any
      information in this press release.
    </p>
    <p>
      CONTACT:<br><b>Itron, Inc.</b><br>Barbara Doyle, 509-891-3443<br>Vice
      President, Investor Relations<br><u>barbara.doyle@itron.com</u><br>or<br>Angela
      Lockwood, 509-891-3816<br>Director, Public Relations<br><u>angela.lockwood@itron.com</u>
    </p>
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