Fujitsu, Lenovo agree to PC mergerStaff Writer | November 3, 2017
Fujitsu said it had agreed to merge its struggling PC business with Lenovo, giving the Chinese computer giant a controlling share of the business.
Merger Lenovo will hold 51 percent
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 program 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.
The company had been in talks with Toshiba and Vaio to merge their once high-flying personal computer businesses, but those negotiations failed to result in a deal.
They have struggled in the face of stiff competition from lower-cost rivals overseas. ■