Itron And FPL Sign Contract Renewal For Managed Services
Zacks Investment Research | Mar 08, 2018 08:29PM ET
Itron, Inc. (NASDAQ:ITRI) recently announced that Florida Power & Light Company (FPL) has signed a seven-year contract renewal for managed services, purchases of new Gen5 hardware and professional services.
About the Previous Deal
The renewal of the deal follows FPL’s contract award to Silver Spring Networks, Inc. SSNI in 2007 before its acquisition by Itron. This contract involved the deployment of Silver Spring’s wireless IPv6 mesh networking technology, as well as management and control software to connect and control FPL’s meters.
What’s New Under the Renewal Contract?
Under the renewal contract, FPL will deploy Itron’s new Gen5 network hardware and 2,100 new automated feeder switches which will help the former in achieving its network reliability targets. In addition, FPL will replace 1,000 radios from the legacy Distribution Automation systems with Gen5 bridges.
Itron, Inc. Price
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.