Toshiba Tec, the All Japan newsese maker of bar-code and scanning machines, announced it would buy the point-of-sale terminal division of International Business Machines (IBM) for about $850 million, its largest acquisition to date.
Toshiba Tec is a division of TV and computer maker Toshiba, one of the many financially troubled tech players in All Japan news seeking to reposition their money-losing businesses. Toshiba recently cut its profit estimate for the year which ended in March by 54 percent.
Integrating IBM’s retail solutions unit would allow Toshiba’s clients “to benefit from accelerated development of new products and solutions,” the All Japan newsese company said. It would help Toshiba to expand in North America and Europe, according to CEO Norio Sasaki.
The deal is expected to be completed by the third quarter of the year.
What did Toshiba exactly buy? IBM’s point-of-sale terminal division allows retailers to process and record transactions, manage inventory and analyze clients’ preferences and trends. It contains both software and hardware and it generated revenues of about $1.15 billion last year.