Toshiba Digital Solutions enters into a share transfer agreement with transcosmos

Toshiba Digital Solutions Corporation and transcosmos have announced that the companies have entered into a share transfer agreement through which Toshiba Digital transfers to transcosmos 80.5% of shares it holds in its subsidiary Toshiba Products Marketing Incorporated. The two companies plan to complete the transaction including all required procedures by November 1, 2019.

Toshiba PM, a wholly owned subsidiary of Toshiba Digital, is a BPO services company (refer to note 1) which undertakes business operations outsourced from Toshiba group companies as well as non-group companies. The company’s services include conversion of documents from text to digital data, data entry, annotation services and other RPA (Robotic Process Automation) related services.

Toshiba Digital and transcosmos have decided to enter into this final agreement in recognition of potential business synergies that this partnership between transcosmos, the leading BPO vendor, and Toshiba PM is expected to bring to their businesses. In particular, the companies expect that this new partnership will further advance their BPO services and thereby enhance the level of service quality appropriate for serving the needs of future digital society. The two companies also believe that the partnership will help Toshiba PM expand its business and further strengthen its foundation of business whilst enabling transcosmos to acquire new clients and further enhance their expertise.

After completing this agreed share transfer, Toshiba PM will enhance its expertise as a BPO services company under transcosmos group and provide services in a flexible and timely manner. By doing so, the company will be able to provide a wider range of services to Toshiba group, a group which is transforming its business model to become a Cyber-Physical Systems (CPS) technology company, whilst promoting its efforts to provide services to companies other than those of Toshiba group in order for the company to expand its outsourcing services business further.