Japanese electronics company Sharps today announced it has acquired Toshiba’s PC division. Sharp plans to sell PCs under the Toshiba brand name. Earlier this month, Toshiba also completed the sale of its NAND flash memory division.
Toshiba sells 80.1% of its PC division to Sharp, the company reports (PDF). Although Sharp and Toshiba already signed a share purchase agreement, they hope to complete the acquisition by the 1st of October this year, including government approval.
Toshiba is in the process of selling several of its divisions to remain profitable and to remain listed on the Tokyo Stock Exchange. The company has financial problems after the bankruptcy of its nuclear energy division. To remain financially healthy, Toshiba already split its PC division to a separate company.
Sharp was acquired in 2016 by the Taiwanese electronics giant Foxconn which manufacturers PCs, game consoles, and which is the primary manufacturer of Apple products. Sharp stopped selling PCs in 2010 and now plans to sell PCs again under the Toshiba brand name. The acquisition fits the plans of Foxconn to become less dependent on others, the company now depends on Apple for more than half of its revenues.
A few days ago, the sale of Toshiba’s NAND division also completed. It was acquired by a consortium led by Bain Capital. Members of the consortium are Apple, SK Hynix, Dell, and Seagate Technology. Toshiba will retain a 40 percent ownership of the NAND division.