Content about Toshiba Tec Corp.

August 1, 2012

Toshiba Tec Corp. and IBM announced the initial closing of the transaction in which Toshiba Tec will acquire IBM's Retail Store Solutions (RSS) business.

New York -- Toshiba Tec Corp. and IBM announced the initial closing of the transaction in which Toshiba Tec will acquire IBM's Retail Store Solutions (RSS) business. The agreement was announced on April 17, 2012.

Toshiba Tec has established Toshiba Global Commerce Solutions Holdings Corporation, a holding company, of which Toshiba Tec holds 80.1% ownership and IBM holds 19.9% ownership.

April 17, 2012

Toshiba Tec Corp., an arm of Toshiba Corp., announced plans to acquire IBM Corp.’s point-of-sale terminal 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.