Toshiba Corp. said Wednesday it has acquired a 76 percent stake in an Austrian energy management software developer to expand its infrastructure business in Europe.
While Toshiba didn’t clarify the amount paid for acquiring cyberGRID GmbH, an official said it was “hundreds of millions of yen.”
The Vienna-based unit, established in May 2010, develops systems for electric power companies to remotely determine and manage supply capacity at factories and buildings to promote efficient use of energy, Toshiba said.
Demand for energy management systems to deliver a stable power supply is growing in Europe, where using renewable energy sources such as solar and wind is gaining ground.
Flash memory upgrade
Toshiba Corp. said it will expand a facility at its NAND flash memory plant in Yokkaichi, Mie Prefecture.
The firm will start the second phase of construction work for the plant’s No. 5 fabrication facility in late August. The work will be completed next summer. Toshiba will spend nearly ¥30 billion on the expansion.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.