Toshiba Acquires IBM’s Point-Of-Sale Terminal Business

A unit of Toshiba Corp is in talks to buy IBM Corp’s point-of-sale (POS) terminal business, which includes cash registers.

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 making it the world’s largest vendor of POS systems and equipment.

Toshiba Tec would pay 70 billion yen ($870 million) for the IBM business – which counts Wal-Mart and Toys “R” Us as customers – mainly financing the deal with cash reserves and bank loans.

IBM holds the top slot in the global POS terminal market with a share of 22 %, the Nikkei said, compared with a 7 % share for the Toshiba subsidiary, as Reuters stated.

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.