Liberty Lake-based utility-technology company Itron Inc. has signed a definitive agreement to acquire Locusview Ltd. and its subsidiaries, a privately held utility-focused software and services company with headquarters located in Chicago and Israel, for $525 million.

“Locusview’s digital construction management platform further expands Itron’s Resiliency Solutions offerings to our customers,” Tom Deitrich, Itron’s president and CEO, says in a press release. “Locusview’s scalable (software as a service) based business is purpose-built and helps critical infrastructure providers improve the productivity and management of construction projects. Given the need to dramatically increase grid build out and the efficiency of operations, the combination of Itron and Locusview creates an exciting platform for the future.”

The acquisition will be funded through cash on hand and is expected to close in January of 2026, according to the release.

“I’ve had the privilege of watching our team turn an idea into an industry-focused and category leading platform, that is now trusted across the utility industry,” asys Shahar Levi, co-founder and CEO of Locusview, in the release. “We set out to pioneer digital construction management — to give operators of critical infrastructure a tool built for their world, one that brings planning, execution, and close-out into a single, real-time, enterprise-scale workflow.”

The acquisition marks a pivotal moment for Locusview, which was founded in 2014, to scale its operations and accelerate its mission to support the critical needs of infrastructure providers globally, Levi says.

The deal comes less than two months after Itron announced a separate acquisition agreement. As reported by the Journal in October, Itron signed a definitive agreement to acquire Urbint Inc., a Miami-based software company, for $325 million. That acquisition is expected to close in the fourth quarter of 2025.

The acquisitions of both Urbint and Locusview add 300 employees to Itron's 5,000 total employees, Deitrich says.

Itron (Nasdaq: ITRI) posted third-quarter net income of $65.6 million, or $1.41 per diluted share, down from $78 million, or $1.70 per share, in the year-earlier quarter.