Lenovo, Fujitsu agree over PC merger

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Photo credits: AFP

Japan’s Fujitsu said on Thursday it had agreed to merge its struggling PC business with Lenovo, giving the Chinese computer giant a controlling share of the business.

Tokyo-based Fujitsu said it had “decided to formally sign a deal” with Lenovo, the world’s largest PC maker, and the government-backed Development Bank of Japan (DBJ) on a “strategic partnership” to develop and sell PCs.

Lenovo will hold 51 percent of the shares in Fujitsu’s PC subsidiary, while the DBJ will hold five percent, Fujitsu said in a statement.

The deal should allow Fujitsu to pour more resources into its profitable IT services operations, while also pushing ahead with a sweeping restructuring programme that will see 3,200 job cuts.

The decision came after Fujitsu said last month it was in talks with Lenovo over a potential deal, which pushed Fujitsu shares up by 7.8 percent.

After the announcement however, Fujitsu shares were trading down 2.44 percent at 874.1 yen.

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