November 2008
Japanese electronics concern Fujitsu is to take over full control of the Fujitsu Siemens Computers joint venture, according to Japanese media reports on Saturday. Fujitsu and Munich-based Siemens AG had owned 50 per cent each of the computing firm, which was established in 1999.
Fujitsu is to make Siemens' share of the firm its own subsidiary, according to well-informed sources speaking to the Japanese business paper Nikkei.
The agreement is expected to be formally announced early next week, with the price paid by Fujitsu anticipated to be around 500 million euros (634.9 million dollars), although pension obligations may push the price higher, the paper said.
Fujitsu Siemens Computers was founded to integrate the firms' personal computer and server businesses in Europe. The joint-venture contract was due to run out next year.
Fujitsu Siemens, with some 10,000 employees as of April 2008, earned 105 million euros in profits before tax in the last financial year, on revenues of 6.6 billion euros.
Fujitsu is expected to focus its business following the acquisition on server services to companies rather than personal computers, according to the Japanese news agency, Kyodo.
............................................................................
Read FUJITSU ARTICLES on TAXI Design Network
............................................................................
This news message is supported by The Bazaar, a marketplace to buy and sell creative objects. Earn more revenue by selling your prints, downloadable images, or custom products. Set up your store today and stand a chance to have your products featured on DesignTAXI, towards millions of lovers of creative content!
