Japanese electronics conglomerate Fujitsu Ltd will buy Siemens AG’s

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 ]