Toshiba Buys Smart Meter Maker Landis+Gyr for $2.3 bln
Toshiba Japan has announced the acquisition of Swiss electronic metering company Landis+Gyr AG for $2.3 billion in cash. This purchase will give Toshiba access to one of the smart grid’s market leading component suppliers’ customer base. They also grow their share of the global smart-grid market which is predicted to grow to $71 billion over the next decade, according to Toshiba.
As the maker of both smart meter hardware and communication modules and other key components for smart grids, Landis+Gyr in an IDC report was sighted as the only company in the market leader category for advanced metering infrastructure (AMI) technology.
With this acquisition Toshiba has position itself as the builder of smart grid infrastructure and supplier of its components. It is also Toshiba’s biggest since its Westinghouse Electric acquisition five years ago.