Toshiba Tec has sealed the deal with IBM, acquiring IBM’s Retail Store Solutions (RSS) business.

Toshiba Tec has established Toshiba Global Commerce Solutions Holdings Corporation, a holding company, of which Toshiba Tec holds 80.1 per cent ownership and IBM holds 19.9 per cent ownership.

Under the holding company, Toshiba Tec also has established Toshiba Global Commerce Solutions, which has begun business operations in four countries: the United States, Canada, Mexico and Australia.

Approximately 500 IBM RSS employees are joining local subsidiaries in the US, Canada, Mexico and Australia under the holding company. 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.

As part of the transaction, Toshiba Tec and IBM will enter into a multi-year agreement where Toshiba Tec will join IBM’s Smarter Commerce business partner program as a Premier Business Partner for Smarter Commerce.

Mamoru Suzuki, president and CEO, Toshiba Tec said Toshiba Global Commerce Solutions will allow Toshiba Tec to establish a global company offering solutions to the retail market.

“As we have seen over the first half of the year, consumer expectations are rising for flawless retail experiences that extend from the store floor to their favourite mobile device,” said Craig Hayman, general manager, Industry Solutions, IBM Software Group. “By partnering with Toshiba Global Commerce Solutions, we combine IBM’s enterprise offerings with a strong suite of in-store products, expanding our Smarter Commerce capabilities to provide multi-channel buying solutions for the growing Smarter Commerce market opportunity.”