After a 35-year stint that has the Toshiba brand becoming a household name among computer users, the company is finally closing its doors in the similar trade. The decision comes in part of a deal that has Toshiba transferring its minority stake of the enterprise over to Sharp.
Just two years ago, Toshiba had a majority of its stake—around 80.1 percent—sold to Sharp for $36 million that subsequently resulted for the latter to rename the Toshiba Client Solutions (TCS) division to Dynabook.
Drawing from a clause established within the purchase agreement, Sharp exercised its power to buy Toshiba’s remaining stake in June 2020, which saw completion a few months later on August 4, 2020.
Arising from the successful deal, Dynabook now becomes a “wholly owned subsidiary of Sharp,” according to a statement released by Toshiba.