Toshiba Finalizing $2.5B Deal for PE-Owned Landis+Gyr

Toshiba plans to pay roughly 200 billion yen ($2.5 billion) for Swiss-based smart metering company Landis+Gyr, Reuters reported. Landis+Gyr is owned by several investors including Bayard Capital of Australia. Toshiba beat out buyout shops TPG Capital and EQT Partners in the auction for Landis+Gyr.