Each party to focus efforts on what it does best.
Siemens has been looking to pull out of the computing industry for a while now, by all accounts and now that move is set in motion. Reuters is reporting that Fujitsu is set of buy Siemens’ 50 per cent stake in the Fujitsu Siemens computers joins venture, between the two separate parties.
Siemens will be able to better focus resources on its core concerns, such as power and healthcare, moving away form less profitable areas of its business. The reported -310 million (~£250 million) profit in its coffers from the deal should help with that!
Tatsuo Tomita, a Senior Executive Vice President at Fujitsu, commented at a press conference that Fujitsu: “would like to compete with IBM and HP but even after this acquisition we are not at a level where we can put up a fight. We currently have a single-digit share of the market, and want to take that to double digits“.
The deal will close on the 1st of April next year, which for the unaware marks the start of a new financial year. Fujitsu Siemens Computers will become a wholly owned subsidiary of Fujitsu as of that point.