Toshiba Unit to Buy IBM Point-of-Sale Ops

A Toshiba Corp unit plans to buy IBM Corp‘s point-of-sale terminal business for $850 million, writes Reuters. Toshiba Tec Corp said it aims to buy the business in the second half of June or in July.

Reuters – A Toshiba Corp (6502.T) unit said on Tuesday it plans to buy IBM Corp’s (IBM.N) point-of-sale terminal business for $850 million, aiming to secure clients such as Wal-mart Stores Inc (WMT.N) and Toys “R” Us Inc TOY.UL in a global push.

Toshiba Tec Corp (6588.T) said it aims to buy the business, which spans cash registers and software to monitor inventory for retailers, in the second half of June or in July.

Toshiba Tec shares gained 6.9 percent in Tokyo to 327 yen, outperforming a flat overall market after the Nikkei business daily earlier reported the deal.

The purchase will make Toshiba Tec, half-owned by Toshiba, the world’s biggest vendor of point-of-sale terminals with about a quarter share of the global market.

(Reporting by Mayumi Negishi; Editing by Edwina Gibbs and Matt Driskill)