Toshiba among bidders for smart meter maker Landis Gyr

Toshiba, GE, ABB and Honeywell are reportedly interested in buying smart meter manufacturer Landis+Gyr, according to reports

May 11, 2011 — Toshiba, GE, ABB and Honeywell are reportedly interested in buying smart meter manufacturer Landis+Gyr, according to reports.

Reuters reported last month that GE was among several interested parties who might pay as much as $2 billion at a private auction for Landis+Gyr.

Based in Zug, Switzerland, Landis+Gyr employs about 5,000 people and has about $1.5 billion in annual revenues. The company has recently won several valuable contracts, including a smart metering supply agreement with the State Grid Corporation of China.

Engineering firms Honeywell International and ABB were also reported to have expressed an interest in the company. ABB recently acquired smart grid technology firm Mincom, and bought another smart grid firm, Ventyx, in May 2010.

So far, Landis+Gyr spokespeople have yet to comment on the reports. Toshiba officials would not confirm the reports either, saying only that their company is looking at ways to expand into the smart grid business sector.

More in Home