Toshiba, a Japan-based electronics group, has emerged as the acquirer of Consert, a US-based energy management company formerly known as Cleartricity.
In December, Consert said it was in advanced talks with undisclosed potential buyers for an acquisition before the end of the year, according to news provider CleanTech Group.
Toshiba said Consert’s North American operations would be integrated with its subsidiary, Landis+Gyr, a provider of integrated energy management products.
Consert had raised $7m in October 2011 and a further $5m in that April, according to filings made with the US Securities and Exchanges Commission (SEC) and $17.7m, in June 2010, from corporate venturing units GE Energy Financial Services and Verizon Ventures, semiconductor manufacturer Qualcomm and energy company Constellation Energy.
Founded in 2008, Consert manufactures home energy management systems uses a smart thermostat, which connects to a central data centre using Verizon’s 3G and 4G networks. Verizon and Consert announced results from jointly-managed Texas-based pilot projects.