Toshiba Global Commerce Solutions Announces Closing of Second Phase of Countries as Part of Acquisition of IBM™s Retail Store Solutions Business
- Toshiba Global Commerce Solutions Today Welcomes Argentina, Columbia, Chile, Hong Kong, Singapore, South Korea, Netherlands, Sweden and Italy
RESEARCH TRIANGLE PARK, NC - 01 Oct 2012: Toshiba Global Commerce Solutions, Inc. headquartered in Research Triangle Park, North Carolina, today announced the closing of the next phase of countries as part of the transaction in which Toshiba Tec will acquire IBM™s Retail Store Solutions (RSS) business. The agreement was announced on April 17, 2012 and the initial transaction closing was announced on August 1, 2012. With the newly formed subsidiaries, Toshiba Tec has become the world's leading integrated in-store solutions company, offering products and solutions that provide new value to customers.
Today, approximately 230 IBM employees from IBM Retail Store Solutions (RSS), S3 – Store System Solutions, and POSCo are joining local subsidiaries in Argentina, Columbia, Chile, Hong Kong, Singapore, South Korea, Netherlands, Sweden, and Italy under the holding company. The initial closing on August 1, 2012 included employees in the United States, Canada, Mexico and Australia. Subsequent closings will occur in other countries over time, subject to the satisfaction of regulatory requirements and customary closing conditions, as well as local agreements and the employee information and consultation process.
“Today, Toshiba Global Commerce Solutions begins business operations in Argentina, Columbia, Chile, Hong Kong, Singapore, South Korea, Netherlands, Sweden and Italy,” said Steven D. Ladwig, President & CEO, Toshiba Global Commerce Solutions, Inc. “As the world’s leading integrated in-store solutions company, we are here to help you, and we look forward to serving a global clientele with innovative retail solutions.”
For further details on the transaction, refer to the August 1, 2012 press release: www.toshibagcs.com (link resides outside of ibm.com)
Toshiba Global Commerce Solutions, Inc.
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