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February 7, 2013
05:37 EDTPC, FJTSYFujitsu, Panasonic to consolidate system LSI business in new company
Fujitsu (FJTSY) and Panasonic (PC) announced that the two companies have signed a memorandum of understanding to consolidate the design and development functions of the system LSI businesses of Panasonic and 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 has been asked to assist with investment and financing. Fujitsu and Panasonic are currently engaged in detailed discussions with the goal of promptly finalizing a contract.
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