Toshiba Tec to acquire IBM POS business for $850 million

Irvine, Calif. -- Toshiba Tec Corp., an arm of Toshiba Corp., announced plans on Tuesday to acquire IBM Corp.’s point-of-sale terminal business for $850 million.

The transaction is expected to be completed mid-summer.

Toshiba Tec, which is 50% owned by Toshiba Corp., will become the world’s largest supplier of POS terminals once the acquisition is finalized.