Late last week, Itron, Inc. (NASDAQ: ITRI) announced an agreement to settle outstanding patent litigation claims brought against the company by TransData, Inc. As a result of this settlement, the two parties will dismiss all litigation claims related to TransData’s intellectual property, meaning that Itron and its customers will not be subject to any additional infringement claims in connection with these patents. The financial terms of this settlement were not disclosed. In a statement issued by the company regarding the agreement, management pointed out Itron’s sizable intellectual property portfolio before turning their attention toward the future. The provided statement reads:
“Itron has a long track record of innovation, including more than 1,000 patents issued and pending. We are pleased to have reached a resolution to this matter on mutually agreeable terms and look forward to continuing to serve our customers as a leader in designing smart communicating meter systems.”
TransData originally filed patent infringement lawsuits against Itron and two other parties in September 2015. The suits asserted that the three companies were “willfully infringing” upon TransData’s “Smart Meter Patents” by “making, using, selling, and/or offering for sale… various digital electric meters equipped with an internal ‘under-glass’ wireless communication circuit and antenna.” Five years prior to the filing of these lawsuits, TransData instituted litigation over the same set of patents against a number of utility providers across the United States, and the cases were still ongoing and proceeding toward trial at the time the Itron case was submitted.
With this litigation now settled, Itron will look to continue building on its recent progress toward achieving sustainable growth on an international stage. Over the past two months, the company has secured a number of significant utility contracts, including a deal with the Malian Drinking Water Supply Management Company to help improve water access in the West African country, an agreement with a water provider in Turks and Caicos to upgrade its water metering system, and a contract with a state-owned utility provider in Jakarta, Indonesia, to deploy 635,000 Itron smart payment meters.
About Itron:
Itron is a leading provider of technology and services designed to promote the resourceful use of energy and water. The company leans on a sizable intellectual property portfolio to offer comprehensive solutions that measure, manage and analyze energy and water. Itron’s offerings include electricity, gas, water and thermal energy measurement devices and control systems; communications systems; and software, as well as consulting services. In total, the company employs thousands of specialists working to support roughly 8,000 customers across more than 100 countries around the globe. Using knowledge and technology, Itron aims to create a more resourceful world.
For more information, visit www.itron.com
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