Stan Yukevich and Kenneth A. Siegel
Mergers + Acquisitions and Japan
MoFo News Item
Morrison & Foerster represented Tokyo-based Toshiba Tec Corp. in its $850 million buyout of the retail services division of International Business Machines Corp. announced April 17. Toshiba will initially purchase an 80.1-percent interest in the business, and will buy the remaining stake from IBM in three years. The transaction is expected to close later this year.
Toshiba Corp. owns a 50-percent stake in Toshiba Tec, which makes peripherals and retail electronics. The IBM division Toshiba Tec acquired makes retail scanners, bar-code machines, and cash registers. Retailers use the point-of-sale systems, which include both hardware and software, to process and record transactions, manage inventory, and collect and analyze data, including customers’ purchasing trends.
Tokyo partners Kenneth Siegel and Stan Yukevich led the deal for Toshiba Tec along with MoFo partners Dale Caldwell, Vivian Hanson, Chris Lyon, Paul Borden and Stuart Beraha. Last May, Morrison & Foerster advised Toshiba on its $2.3 billion buyout of Landis+Gyr, a maker of power meters based in Zug, Switzerland. To view the press release, click here.
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