Fujitsu has announced it will buy out rival technology company Siemens from the two firm’s joint European IT hardware venture Fujitsu Siemens Computers (FSC).
The deal to buy Siemens’ half in the venture will cost Fujitsu in the region of €450 million (£363m), it has been reported.
Kuniaki Nozoe, Fujitsu’s president, said the deal would be beneficial for both firms by focusing each company’s attention on its chosen industry. Where Fujitsu is looking to consolidate its position in the IT market, Siemens is looking to focus on industry, energy and health, he said.
Analysts expect FSC to lose €100 million this year as the personal computer market has suffered from smaller expendable cash on the part of consumers during the credit crunch.
When the deal goes through in April next year the Japanese firm will drop the Siemens name and operate as Fujitsu Computers. It will focus on supplying to Russia and Eastern Europe where there is a growing demand for IT in line with the regions’ development.