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Fujitsu, Panasonic to Consolidate System LSI Businesses

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Fujitsu Limited (OTC: FJTSY) and Panasonic Corporation
(NYSE: PC) today announced that the two
companies have signed a memorandum of understanding (MOU) to consolidate
the design and development functions of the system LSI businesses of
Panasonic and Fujitsu Semiconductor Limited ("Fujitsu Semiconductor"), a
wholly owned subsidiary of Fujitsu. With the backing of capital
contributions from third-party investors, Fujitsu and Panasonic will
establish a new company under a fabless business model, enabling LSI
design and development functions. At the same time, the two companies
have agreed to discuss the transfer of business to the new company. In
establishing the new integrated company, Development Bank of Japan
Inc.("DBJ") has been asked to assist with investment and financing.

See full press release

Posted-In: News Guidance Contracts Management M&A Global


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