Jackson company sold for $100M

Jackson-based smart grid developer SmartSynch announced Wednesday it will be acquired by international energy technology company Itron Inc. in a deal worth $100 million.

Following an afternoon celebration with cake, SmartSynch CEO Stephen Johnston said the company – and its 84 employees in Mississippi – aren’t going anywhere.

“This means we’ve expanded to 130 countries,” said Johnston, who joined SmartSynch in 2000. “(Itron) has acquired SmartSynch because our technology has become a very compelling part of the smart grid landscape. This makes a lot of sense for them and us.”

Clarion Ledger