The retail subsidiary of computing company Toshiba, Toshiba TEC, has bought a 12% stake in digital self-service company Yeahpoint, based in SA and Australia, to boost its presence in the local market.
According to Yeahpoint, the purpose of the investment is to combine the size and market strength of Toshiba TEC with the expertise of Yeahpoint. Toshiba TEC did not disclose the specific details or the value of the deal.
The company says the digital self-service market is tipped to boom over the next five years. It believes this deal positions Yeahpoint and Toshiba TEC strongly as key players in what is one of the fastest growing areas for many sectors, including retail, financial services, government and healthcare.
Danny De Beer, MD of Yeahpoint Africa, says: “Yeahpoint Africa is getting an increase in investment to support EMEA growth and a centre of excellence that forms part of our global support team will be based in SA.
“A significant portion of the investment will go into research and development, and this, combined with our global presence, will ensure that SA businesses have access to our thought leadership. Any innovation we see worldwide will be made available in SA.”
De Beer says the Toshiba TEC deal will help Yeahpoint grow its EMEA and US operations. He adds that the company aims to replicate its dominant position in Asia Pacific to other regions such as SA.
Yeahpoint and Toshiba TEC say they will provide multi-platform solutions using tablets, motion sensors, biometrics and analytics to streamline any process in any application.
Toshiba TEC Singapore's president and CEO, Takeshi Hiyoshi, believes the deal has the ability to not only change the global interactive self-service landscape, but shift the balance of power between global technology heavyweights.
On whether last month's Japan earthquake affected Toshiba TEC's plans to invest in Yeahpoint, Toshiba said the disaster had no effect, considering the agreement was approved by the board after the recent disasters.
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