Itron buys Georgia-based Comverge in $100 million deal

Itron has finalized its purchase of Peak Holding Corp. for $100 million, company officials announced Thursday.

Peak Holding is the parent corporation for privately held Comverge, which works with electric utilities on issues such as energy efficiency, customer engagement and demand response, which helps match demand for power with the supply.

Comverge’s business compliments Itron’s work in smart grid technologies and advanced metering for energy and water utilities, said Mark de Vere White, president of Itron’s electricity business line.

Comverge is headquartered in Norcross, Georgia, and has offices in Denver and Florham Park, New Jersey, and in Japan and South Africa.

Liberty Lake-based Itron has nearly 8,000 customers in more than 100 countries. Itron helps customers manage their energy and water use.