Toshiba is looking to “reimagine the store of the future” from a new hub in North Texas.
The retail division of the Tokyo-based business solutions giant plans to open a new innovation and incubation hub at Frisco’s Hall Park development. Toshiba will bring 50 new jobs to the region in 2022, with plans to expand its local team to around 150 over the next two years.
Meeting consumers when, where, and how they shop
“We’re focused on providing scalable, customer-centric solutions that deliver optimized experiences to meet consumers when, where, and how they shop,” said Rance Poehler, president and CEO at Toshiba Global Commerce Solutions, in a statement. “While many tech companies are cutting back, we’re investing significantly and expanding to meet new demand created by our commerce platform recognized for accelerating digital transformation to deliver an exceptional retail experience.”
Incubating retail innovation
Focused on retail-focused software and hardware, Toshiba Global Commerce Solutions says its new Frisco hub will help it increase investments in areas like cloud development, computer vision, and retail IoT. The hub will also enable it to “incubate new retail innovation.”
The more than 14,000-square-foot space in Frisco will also house a new team the firm is building that will be focused on future mergers and acquisitions.
Drawn by North Texas tech talent
Toshiba cited North Texas’ tech talent pool as a reason for locating the hub in Frisco.
“Part of our strategy includes engaging emerging startups in the region to expand our ecosystem,” said Mike Yeung, EVP and CTO of Toshiba’s retail division, in a statement. “Our investments in IoT, data analytics, and computer vision enable retailers to provide a consistent, compelling experience for consumers, whether they shop in-store, at curbside, on their mobile device, or at home.”
Another reason Toshiba chose Frisco: Location, location. North Texas’ central location will enable connectivity to other development centers the company operates on the East Coast, Mexico, Asia, and Europe.
Company is courting buyers for what could be a $22B deal
The announcement comes as the company has been courting potential buyers in a deal that could potentially value the firm at $22 billion, Reuters reports.
Building out Hall Park
Toshiba’s move adds to what is already Frisco’s largest workforce site, with more than 10,000 workers employed at Hall Park. Last October, Dallas developer Hall Group launched a $7 billion redevelopment of Hall Park that will add more than 9 million square feet of mixed-use space to the development.
“Toshiba’s research and development expansion brings new corporate innovation jobs that will provide great opportunities for Frisco residents and further expand our tech ecosystem,” Frisco Mayor Jeff Cheney said in a statement.
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