Toshiba acquires Landis+Gyr

Toshiba Corporation, a global provider of electronics and social infrastructure systems, has entered into a definitive agreement to acquire the entire equity of Landis+Gyr AG, a company incorporated in Switzerland and a manufacturer of energy management solutions for utilities.

The acquisition, valued at US$2.3 billion including net debt, will substantially enhance the scope of Toshiba’s Smart Grid and Smart Community businesses and position the company as a global force with world-class capabilities.

The acquisition is subject to regulatory approvals and other customary closing conditions. Projects to establish Smart Grids are being promoted by countries and regions around the world and are aimed at achieving the modern and more environmentally friendly infrastructure essential for a low carbon society and sustained economic growth. Forecasts indicate that the next decade will see the Smart Grid market grow to 5.8 trillion yen.

While the original Smart Grid business mainly covers power system network management, the latest trend is a shift to a higher level concept, ‘Smart Community’. This supports diverse infrastructure systems, including energy, water, transportation and ICT, delivers comprehensive solutions to consumers, and secures the integrated modernisation of the overall infrastructure supporting entire towns and cities.