Date:17/04/12
A unit of Toshiba Corp (6502.T) is in talks to buy IBM Corp's (IBM.N) point-of-sale (POS) terminal business, which includes cash registers, a source familiar with the deal said.
The purchase, which local media put at around $870 million, was aimed at expanding the global reach of Toshiba's half-owned Toshiba Tec Corp (6588.T), making it the world's largest vendor of POS systems and equipment, the source told Reuters.
The company's board had yet to meet to finalize the deal, the source added.Toshiba Tec shares gained 7.5 percent in Tokyo to 329 yen, outperforming a flat overall market.
Toshiba Tec would pay 70 billion yen ($870 million) for the IBM business - which counts Wal-Mart (WMT.N) and Toys "R" Us (TOYS.N) as customers - mainly financing the deal with cash reserves and bank loans, the Nikkei business daily reported.
IBM holds the top slot in the global POS terminal market with a share of 22 percent, the Nikkei said, compared with a 7 percent share for the Toshiba subsidiary.
IBM's technology would strengthen Toshiba's cloud computing services that enable stores, shoppers, manufacturers and others to exchange information and offer services, it said.
($1 = 80.3800 Japanese yen)
Toshiba to buy IBM's point-of-sale terminal business: source
A unit of Toshiba Corp (6502.T) is in talks to buy IBM Corp's (IBM.N) point-of-sale (POS) terminal business, which includes cash registers, a source familiar with the deal said.The purchase, which local media put at around $870 million, was aimed at expanding the global reach of Toshiba's half-owned Toshiba Tec Corp (6588.T), making it the world's largest vendor of POS systems and equipment, the source told Reuters.
The company's board had yet to meet to finalize the deal, the source added.Toshiba Tec shares gained 7.5 percent in Tokyo to 329 yen, outperforming a flat overall market.
Toshiba Tec would pay 70 billion yen ($870 million) for the IBM business - which counts Wal-Mart (WMT.N) and Toys "R" Us (TOYS.N) as customers - mainly financing the deal with cash reserves and bank loans, the Nikkei business daily reported.
IBM holds the top slot in the global POS terminal market with a share of 22 percent, the Nikkei said, compared with a 7 percent share for the Toshiba subsidiary.
IBM's technology would strengthen Toshiba's cloud computing services that enable stores, shoppers, manufacturers and others to exchange information and offer services, it said.
($1 = 80.3800 Japanese yen)
Views: 1350
©ictnews.az. All rights reserved.
Similar news
- 24% of U.S. Adults have made phone calls on the Internet
- UNESCO puts sustainable learning online
- Australia gives incentives for the use of telehealth
- US launches computer programme for poor kids
- UN declares web access as human right
- Facebook growth slows in stalkerbase heartlands
- One Third of Millionaires Use Social Media
- Facebook Seeks Bigger Role in Software for Mobile Apps
- Icann increases web domain suffixes
- IBM launches new social networking platform for enterprises
- Google Notches One Billion Unique Visitors Per Month
- Internet providers cut international channel renting costs by 60%
- Azerbaijan launches standard time on internet
- Icann launches facility to ease DNSSec adoption
- Social network data mining yields worrying results for traditional media
