Retailers often forget about their in-store technology until something goes wrong. By which time, getting it fixed is a serious concern. Here are a few tips to ensure your IT equipment is as free from risks as possible.
A unit of Toshiba Corp plans to buy IBM Corp's point-of-sale (POS) terminal business, to expand its offerings to retailers, according to a source familiar with the deal.
The Japanese company's unit Toshiba Tec Corp will buy IBM's retail in store solution operations to expand its offerings to retailers. The transaction is scheduled to be completed between the end of June and July.
The deal will give Toshiba a broader range of IBM clients on a global basis, including Walmart stores and Toys R US in the US.
A holding company will be established in Japan to oversee its business operations in regions including the U.S., Europe and Asian nations. Toshiba Tec will hold an 80.1% stake, while the remaining 19.9% stake will be held for next three years by IBM to complete the business transaction smoothly.
The transaction will help push Toshiba into the top spot in the area of POS terminal market, which covers cash registers and other POS devices.
IBM commands a 20%-25% share in the global market while Toshiba Tec has the biggest share in Japan but is placed fourth in the world with a market share of 6-7%, according to a Toshiba Tec official.
“Toshiba Tec enjoys a strong presence in retail store solutions in the Asia-Pacific, including Japan, and we are confident that this acquisition will support expansion in North America, Europe and the emerging economies,” said Toshiba President and Chief Executive Norio Sasaki in a press release.
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.