19 May '11, 4pm

As Rumored, Toshiba Buys Landis & Gyr for $2.3B Cash: Landis+Gyr just announced that Toshiba, a leader in elec...

As Rumored, Toshiba Buys Landis & Gyr for $2.3B Cash: Landis+Gyr just announced that Toshiba, a leader in elec...

photo by lowjumpingfrog, creative commons Landis+Gyr just announced that Toshiba, a leader in electronics and power systems, will acquire Landis+Gyr, a leader in smart grid metering, for $2.3 billion in cash after a bit of a bidding war involving General Electric and others. Landis+Gyr has over 8,000 utility customers worldwide and the acquisition immediately makes Toshiba a major player on the smart grid landscape. General Electric was rumored to be an earlier bidder, but dropped out. With Landis under its belt, Toshiba would become one of the primary players for smart meters and utility infrastructure equipment. The Swiss-based company is best known for its metering, but Landis+Gyr also has applications for distribution automation , an area of the market that is expected to grow to $9.6 billion by 2015, according to GTM Research. But meters aren't exactly old hat. There ...

Full article: http://www.greentechmedia.com/articles/read/as-rumored-to...

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