TOSHIBA has entered into a definitive agreement to acquire the entire equity of Swiss energy management company Landis+Gyr AG.
The deal worth $2.3bn including net debt is designed to enhance the scope of Toshiba's Smart Grid and Smart Community businesses and position the company as a global competitor with world-class capabilities.

The Smart Grid business covers power system network management but the latest trend is a shift to a higher level concept of Smart Community which supports diverse infrastructure systems, including energy, water, transportation and ICT.

Established in 1896, and now with over 8,000 utility customers globally, Landis+Gyr has pioneered the development of leading-edge smart metering, networking and service products to meet the needs of the utilities industry. Its business operations now extend to 30 countries and regions across five continents.