Toshiba Buys Consert to Add U.S. Power Management Operations
Toshiba Corp., the Japanese maker of products including flash-memory chips, elevators and steam turbines, bought Consert Inc., adding a U.S. energy technology management company.
Toshiba paid more than 1 billion yen ($11 million) for the acquisition of the San Antonio, Texas-based, closely-held Consert, Toru Ohara, a spokesman for the Tokyo-based company said by phone today.
Buying Consert gives Toshiba control of its Virtual Peak Plant technology that helps utilities manage power loads.
“The acquisition will add a new level of technology to our smart community business,” Toshiba Corporate Vice President Takeshi Yokota said in a statement. Consert’s operations will be incorporated into Toshiba’s Landis+Gir AG electronic meter company.
To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net
To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.