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Written by Peter Scott
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Tuesday, 04 November 2008 19:24 |
Siemens sells joint venture stake for €450 million
Maker of cheap and ghastly PCs, Fujitsu Siemens Computers, is on its way to Valhalla. Siemens, the German half of the outfit, chose to pull out end sell its stake to Fujitsu, ending the marriage in a €450 million divorce.
The deal should be finalized by April 1 next year, just in time to make some lame April fool's day jokes about it. Although Siemens claims it will still cooperate with Fujitsu, it's highly unlikely it will reenter the PC market any time soon.
Siemens CFO Joe Kaeser claims the company will focus on strategic industry sectors such as energy and health care. In other words, it will focus on energy efficient light bulbs and very expenisve machines that go "ping."
Fujitsu isn't cross about losing its German spouse. It claims it will inherit a strong consumer base in EMEA, good employees, R&D capability and customers. In fact, it sounds like they're doing great, but why would Siemens walk out if it were so?
More here.
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