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On August 1, 2012 Toshiba Tec Corporation (TSE: 6588) and IBM corporation announced the beginning of an execution of the transaction according to which Toshiba Tec will purchase at IBM of its business solutions for retail stores (Retail Store Solutions, RSS). The relevant agreement was announced on April 17, 2012.
Toshiba Tec created the Toshiba Global Commerce Solutions Holdings Corporation holding company, Toshiba Tec share in which makes 80.1%, and a share of IBM – 19.9%. As a part of this Toshiba Tec holding also founded Toshiba Global Commerce Solutions company which began to function in 4 countries – the USA, Canada, Mexico and Australia. The headquarters of Toshiba Global Commerce Solutions is in so-called. "A science triangle" (Research Triangle Park), the area in the central part of the State of North Carolina which is located between three campuses. Heads Stephen D. Ledvig company (Steven D. Ladwig), president and chief executive officer of Toshiba Global Commerce Solutions, Inc. After creation of these affiliated enterprises Toshiba Tec became the leading supplier of integrated solutions for trade enterprises, proposing the innovation products and solutions providing new advantages to customers.
About 500 employees of IBM RSS pass into local affiliated firms in the USA, Canada, Mexico and Australia as a part of holding. Further activities for completion of the transaction of acquisition will be performed over time and in other countries, with observance of regulatory requirements of regulating authorities and usual conditions of the conclusion of similar transactions and also compliances to local agreements, information on employees and to process of consultations.
As a part of the transaction of acquisition, Toshiba Tec and IBM will sign the long-term agreement according to which Toshiba Tec will join the affiliate program of IBM Smarter Commerce as the business partner with the status Premier Business Partner for Smarter Commerce. This agreement will help to meet the growing demand of the market for multichannel trade and to provide clients worldwide with access to a portfolio of the business solutions and services of IBM for Reasonable commerce having a broad spectrum of application – from corporate DPC to separate retail store, – and also to solutions for retail from Toshiba Tec.
"This transaction is an important milestone in the history of Toshiba Tec as RSS business corporations IBM becomes a part of our company, and, along with it, Toshiba Tec will receive the status of the Premier-partner of IBM within an initiative of Reasonable commerce — the president and the chief executive officer of Toshiba Tec emphasized to Mamoru Suzuki. — Having founded Toshiba Global Commerce Solutions, Toshiba Tec creates the leading global company proposing high-quality solutions for the world market of retail. Our purpose consists in complete satisfaction of needs of our clients, and we will continue to increase our presence in this market".
"As it became clear in the first half of the year, consumers expect from retail of faultless service quality, whether it be a counter of shop or the handheld device — Craig Hayman, the general manager of division of industry solutions (Industry Solutions) as a part of IBM Software Group noted. — Through partnership with Toshiba Global Commerce Solutions we integrate business offerings of IBM with the powerful package of proposals for shops, expanding market opportunities of our initiative of Smarter Commerce for providing solutions for multichannel trade".
"Toshiba Global Commerce Solutions begins the business operations in the USA, Mexico, Canada and Australia — Stephen D. Ledvig reported (Steven D. Ladwig), president and chief executive officer of Toshiba Global Commerce Solutions, Inc company. — We are glad to this consolidation of strengths of two dear leaders of the IT industry, and we with impatience expected an opportunity to propose to global clients the innovative integrated solutions for retail stores".
The additional information about the transaction
At the total cost of the transaction of acquisition in 850 million US dollars, Toshiba Tec Corporation made the first payment by IBM today. The second payment will be made in the first anniversary of start date of a design of closing of the transaction. The rest of the amount will be paid in the third anniversary of this date in exchange for a 19.9% share of joint-stock participation of IBM in Toshiba Global Commerce Solutions Holding Corporation holding. Thus, it is supposed that Toshiba Global Commerce Solutions Holdings Corporation will become the subsidiary company belonging to Toshiba Tec.
About the holding company
- Company name: Toshiba Global Commerce Solutions Holdings Corporation
- Address: Shinagawa-ku, Tokyo, JAPAN
- Capital: 403 million US dollars
- Representative: Masato Yamamoto, president
- Shareholders: Toshiba Tec – 80.1%, IBM – 19.9%
About recently created company (USA)
- Address (international headquarters): Research Triangle Park, State of North Carolina
- Company name: Toshiba Global Commerce Solutions, Inc.
- Staff in the USA: about 450 people
- Chief executive officer: Stephen D. Ledvig (Steven D. Ladwig)
- Website: http://www.toshibagcs.com/
About Toshiba Tec Corporation company
- Headquarters: Shinagawa-ku, Tokyo, Japan
- Capital: 39970 million Japanese yens
- The income (consolidated): 350604 million Japanese yens
- Representative: To Mamoru Suzuki, president and chief executive officer
- The staff (consolidated): About 20000 people (as of March, 2012)
- Number of branches: 53 (as of March, 2012)
- Website: http://www.toshibatec.co.jp/en/
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