Toshiba Corp. bought 76% stake in CyberGRID GmbH, an Austrian developer and provider of energy organization. Toshiba was a Japanese maker of flash-memory chips. It also manufactured nuclear reactors that would help boost the technological advancements.

The acquisition would enhance the Japanese corporation's smart community firm. It would further improve the business in Europe. Today, the company stated Europe was "where progress in introducing renewable energy is driving a need for optimal power management technology that delivers a stable power supply."

However, no financial terms were revealed regarding the deal. The Austrian firm did not want to comment. Toshiba's executives refused to add details too.

The negotiation came after Toshiba's purchase of Landis+Gyr in 2011. Landis+Gyr was a Swiss electronic-metering company. Toshiba's operations in North America were integrated with the world's leading provider of integrated energy management products.

In February, Toshiba also acquired an American energy management company, Consert Inc.