[Editor's note: Toshiba announced on May 19 that it has formally acquired Landis & Gyr for $2.3 billion.]
Toshiba has reportedly emerged as the top contender in the bidding war over Swiss smart meter maker Landis & Gyr, leapfrogging several engineering giants, including General Electric, Honeywell and Siemens.
The $2 billion-plus deal would strengthen Toshiba's smart community division, a business it views as a growth area, the New York Times reported. The company has several large-scale smart grid projects underway in Japan and New Mexico.
Media reports over the past week have named Siemens, ABB, General Electric, TPG Capital and EQT as potential suitors for Landis & Gyr, with Toshiba eventually ending up as the sole potential buyer. With its 5,000 employees, Landis & Gyr is regarded as one of the world's top smart meter manufacturers and service providers.
The move would bolster Toshiba's standing in the space we at GreenBiz.com call VERGE. This is where four technology sectors overlap: energy, information, buildings and vehicles.
It's easy to see what makes Toshiba a VERGE player. In addition to electronics and computers, the company is involved in developing nuclear, hydro, solar and geothermal power technologies; fuel cells; rechargeable batteries; and building energy management systems.
Want to know more? To help define and drive the VERGE business opportunity, GreenBiz.com will hold a series of high-level roundtable discussions next month that will be livecast from Shanghai, London and San Francisco. In addition to Toshiba, you may be surprised to learn just how many companies play in this emerging space, including Best Buy, Google, Honda and IBM.
Photo CC-licensed by Portland General.