Fujitsu will acquire Siemens` 50% share in the joint venture (JV) Fujitsu Siemens Computers, effective 1 April 2009, subject to the approval of relevant government agencies.
Fujitsu Siemens Computers was established on 1 October 1999, as a 50:50 JV based in Maarssen, The Netherlands.
"Fully integrating Fujitsu Siemens Computers into the Fujitsu Group fits perfectly into our global growth strategy," says Kuniaki Nozoe, president of Fujitsu. "We`re inheriting a strong customer base in EMEA and a 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."
The Fujitsu Siemens JV has established a leading position in the EMEA market for IT infrastructure, earning a reputation for quality and innovation in the server, PC and data storage fields.
"We continue to focus our company on the strategic sectors of energy, industry and healthcare. We are happy that our JV partner Fujitsu will acquire our stake in Fujitsu Siemens Computers and will take the company to its next level of success," says Siemens CFO Joe Kaeser.
Under the share purchase agreement signed between the companies, Fujitsu will acquire Siemens` stake for approximately 450 million euros.
Fujitsu Siemens Computers will continue to operate as a joint venture until the transaction is completed.
Fujitsu and Siemens said CEO and president of Fujitsu Siemens Computers, Bernd Bischoff, has resigned for personal reasons. Kai Flore, CFO of Fujitsu Siemens Computers, has been appointed the new CEO and president of the company.
Over the years, Fujitsu and Siemens have developed a mutually beneficial partnership, encompassing technology sharing and other collaborative business activities in the information and communications field. The companies intend to continue collaborating in various fields of technology in the future.
At this stage, there is no indication how the move will affect Fujitsu Siemens` country subsidiaries. A source close to the local business says the brand will change, but the company will continue operating on a "business as usual" basis.
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