Asia Express - Computing
Fujitsu to Buy Siemens' Entire Stake in JV
November 07, 2008
Japanese Fujitsu announced on November 4 that it will take over Siemens AG' entire 50% stake in their PC joint venture Fujitsu Siemens Computer, in a bid to strengthen its market presence in Europe, according to a press release by Fujitsu. The deal, which is valued at around 450 million Euros (US$572.7 million; US$1 = 0.75 Euro), is slated to be effective on April 1, 2009.

The joint venture, formed in 1999, will becomes Fujitsu's wholly-owned unit following the transaction. At present the purchase plan is still pending the respective government authorities' approval, according to the same source.