Dive Brief:

• Best Buy Co. Inc. in February will sell its MindShift Technologies cloud-computing unit to Ricoh. The amount of the deal is undisclosed.

• The company in 2011 bought the Waltham, Mass.-based cloud-computing company for $167 million in hopes of getting into cloud-based information services for smaller businesses that don’t have their own.

• The sale comes amid stark holiday losses and other signs that the retailer is refocusing its core electronics sales business. Last year, it sold its 50% of Best Buy Europe to Carphone Warehouse, and in 2013, it shed its venture capital business, Best Buy Capital.

Dive Insight:

Knocked off balance by its dismal holiday performance, Best Buy Co. Inc. is getting off the expansion treadmill. CEO Hubert Joly has said the company aims to lower costs structure, invest in e-commerce, and grow its Geek Squad services.The latest sale, of its cloud-computing service, MindShift Technologies, is a sign that the retailer is serious when it comes to its core business.