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Toshiba Buys 76% Stake in Energy Management Developer CyberGRID

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July 3 (Bloomberg) -- Toshiba Corp., a Japanese maker of flash-memory chips and nuclear reactors, acquired a 76 percent stake in CyberGRID GmbH, an Austrian developer and provider of energy management.

The purchase will enhance Toshiba’s smart community business in Europe, “where progress in introducing renewable energy is driving a need for optimal power management technology that delivers a stable power supply,” the company said in a statement today. No financial terms were disclosed.

The move followed Toshiba’s acquisition of Swiss electronic-metering company Landis+Gyr AG in 2011 and Consert Inc., a U.S. energy management company in February.

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

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