Toshiba Tec to acquire IBM’s Retail Store Solutions business

Toshiba Tec is to acquire IBM’s Retail Store Solutions business, which offers retail point-of-sale solutions worldwide, for $850m (£531m).

Upon completion of the transaction, Toshiba Tec says it will become the world’s foremost retail point-of-sale systems company, offering hardware, software and integrated in-store solutions, and will team with IBM to bring the Smarter Commerce experience to retailers and their customers worldwide.