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Fujitsu to gain Siemens' share in JV

Posted: 06 Nov 2008 ?? ?Print Version ?Bookmark and Share

Keywords:JV share? joint venture computers?

Fujitsu Ltd will acquire Siemens AG's 50 percent share in their joint venture Fujitsu Siemens Computers (Holding) B.V., effective April 1, 2009 subject to the approval of relevant government agencies. Fujitsu Siemens Computers was established on Oct. 1, 1999 as a 50-50 joint venture based in Maarssen, The Netherlands.

"Fully integrating Fujitsu Siemens Computers into the Fujitsu Group fits perfectly into our global growth strategy," said Kuniaki Nozoe, president of Fujitsu. "We're inheriting a strong customer base in EMEA and an R&D capability that can support our global products development not to mention a tremendously talented group of employees who share our values and commitment to grow with our customers as their trusted business partner."

"We continue to focus our Company on the strategic sectors Energy, Industry and Healthcare. We are happy that our joint-venture partner Fujitsu will acquire our stake in Fujitsu Siemens Computers and will take the company to its next level of success," added Joe Kaeser, Siemens' chief financial officer.

Under the share purchase agreement signed between the companies, Fujitsu will acquire Siemens's stake for approximately 450 million euros. The companies plan to close the transaction on April 1, 2009 after approval from relevant government agencies. Fujitsu Siemens Computers will continue to operate as a joint venture until the transaction is completed.

Fujitsu and Siemens also announced that the CEO and president of Fujitsu Siemens Computers, Bernd Bischoff, has resigned for personal reasons. Kai Flore, chief financial officer of Fujitsu Siemens Computers, has been appointed the new CEO and president of the company.

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