Fujitsu to buy Siemens Stake in PC Joint Venture

November 4, 2008 | Posted in Business & Economy | 130 views

Japanese electronics conglomerate Fujitsu Ltd will buy Siemens AG’s

Fujitsu to buy Siemens stake in PC joint venture

50 percent stake in their computer joint venture for 450 million euros ($567 million), aiming to boost its presence overseas.

Fujitsu said it hoped the acquisition would help it gain ground against International Business Machines and Hewlett-Packard , which currently dwarf it in computer server markets in Europe, the Middle East and Africa.

The deal is also expected to allow Siemens, which has been spinning off non-core business, to focus more resources on its power, energy and health services at a time when the global financial crisis could crimp demand for computers.

Source [ Forbes ]

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