Fujitsu Buys Out Siemens PC Venture Stake

Fujitsu has announced it will buy out Siemens' stake in their European joint venture for about $560 million.

Fujitsu has announced it will be buying out Siemens’ stake in their European computer-making joint venture, Fujitsu-Siemens Computers. The 50-50 joint venture was set up in 1999 and, while it has never had a significant presence in the North American market, the company has been a player in Europe, and the firm now operates in 36 countries and pulled in revenues of €6.6 billion in its last fiscal year. Fujitsu will pay €450 million for Siemens’ share of the business; the deal is expected to close April 1, 2009.

“Fully integrating Fujitsu Siemens Computers into the Fujitsu Group fits perfectly into our global growth strategy,” said Fujitsu president Kuniaki Nozoe, in a statement. “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.”

Although Siemens was keen to get into the computing business a decade ago, in recent years the company’s efforts have shifted more towards health care, energy, and industrial applications.

Fujitsu is reportedly considering a major revamp of Fujitsu-Siemens operations once the acquisition is completed, with some press reports saying CEO Bernd Bischoff’s departure had more to do with a rift with Fujitsu’s plans for the company than the “personal reasons” publicly cited by the company.