With two private equity groups having pulled out of the bidding, Toshiba is closing in on a $2bn deal to buy Landis+Gyr, the world’s largest smart-meter maker by revenues.
The battle for the company shows how big an opportunity companies and governments view demand-side management. L+G already has orders to provide 62,000 meters to Finland’s Oulu Energy; and more than 10,000 to six provinces in China, which will create the world’s largest smart grid.
But such companies have one major advantage: they can claim to help reduce carbon emissions and improve energy security without the major cost of new power plants and with little additional cost to the consumer.
The company certainly talks a good game, anyway. Last month Cameron O’Reilly, the chief executive, and Steve Cunningham, the UK CEO, told Energy Source readers: “We have every expectation of seeing our footprint grow dramatically in the months and years ahead.”
Toshiba will certainly hope so.