Have you seen any Toshiba computers or laptops around lately? Probably not, and now we’re pretty sure you never will. According to a recent press release, Toshiba has transferred the remainder of its PC business over to Sharp, where it will be assimilated into the latter’s Dynabook brand comprising business-oriented laptops such as the 13-inch Portégé X30L-G.
“Toshiba Corporation hereby announces that it has transferred the 19.9% of the outstanding shares in Dynabook Inc. that it held to Sharp Corporation,” the press release reads. “As a result of this transfer, Dynabook has become a wholly owned subsidiary of Sharp.”
“Under the terms of a June 2018 share purchase agreement between Toshiba and Sharp, Toshiba transferred to Sharp 80.1% of the outstanding shares of Toshiba Client Solutions Co., Ltd (hereinafter TCS), then Toshiba’s wholly owned subsidiary in the personal computer business. That transfer closed in October 2018, and TCS changed its name to Dynabook in January 2019. On June 30, 2020, under the terms of the share purchase agreement, Sharp exercised a call option for the remaining outstanding shares of Dynabook held by Toshiba, and Toshiba has completed procedures for their transfer.”
Sharp originally announced that it would be buying Toshiba’s PC business back in June 2018 for $36 million. At the time, it only took an 80.1 percent stake.
As pointed out by Reuters, Toshiba launched the world’s first laptop PC in 1985.