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The company makes software and chips to create a network that brokers communications between utilities and customers. For example, its products can be embedded in a smart meter so that it can send usage information to utilties in regular intervals and utilities can send electricity rate information to customers in real time.

From a technology point of view, Silicon Valley-based Silver Spring Networks is well known for its decision to use the Internet Protocol standard as the basis for its products. It creates an open playing field," Lang said. He predicted that the roll-out of smart-grid gear to 5 million people will take two and a half years, rather than the five years as originally projected. We are deploying over , homes a month and that will probably double next quarter," he said.

The massive government stimulus plan set aside billions of dollars for modernizing the grid, which includes smart-grid projects. Lang said that Silver Spring Networks won't benefit directly from government incentives, but it will speed up existing projects. Each alternate name must be on its own line Save. Close Feedback. Patent no. Published Application no. OR Application no. Submit Close. Close Patent request submitted!

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CPS Energy welcomes Silver Spring Networks to SA

More specifically, Itron will acquire Silver Spring Networks in a $per-share cash deal valued at roughly $ million, net of Silver. Earlier this month, Silver Spring Networks filed an S-1 for its long anticipated IPO. It was so long anticipated that many had about given. Trading under the ticker symbol SSNI, Silver Spring shares closed at $22 on the New York Stock Exchange, up $5 from the offering price of.