Silver Spring picks banks for planned IPO-report

* M. Stanley, Jefferies tapped to underwrite IPO- report

* IPO expected midyear-report

NEW YORK, March 1 (Reuters) - California smart grid networking company Silver Spring Networks Inc has chosen banks to manage its initial public offering planned for midyear, according to a report in Dow Jones Clean Technology Insight.

The company has chosen Morgan Stanley (MS.N) and Jefferies & Co (JEF.N) to underwrite the IPO, according to the report, which cited a person familiar with the situation.

Silver Spring has not yet filed a prospectus with the U.S. Securities and Exchange Commission. The company, Morgan Stanley and Jefferies did not immediately respond to requests for comment.

Smart grid technology measures and adjusts energy usage in homes and businesses, improving power grid reliability and efficiency.

Redwood City, California-based Silver Spring has investments from Google Ventures (GOOG.O), Foundation Capital, Kleiner Perkins Caufield & Byers and Northgate Capital. It completed its last round of financing in December, boosting its total to about $250 million. (Reporting by Clare Baldwin; Editing by Lisa Von Ahn)