TMCnet News
Japan : FUJITSU and PANASONIC inks definitive agreement with DEVELOPMENT BANK OF JAPAN to establish a new semiconductor company [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) Fujitsu and Panasonic have inked a definitive agreement with the Development Bank of Japan for setting up of a new fabless semiconductor company to design and develop system LSI. Earlier in February 2013, Fujitsu and Panasonic had initially agreed to combine their LSI businesses. Later in April 2014, both the firms inks a MoU with the DBJ. Yasuo Nishiguchi, the former Kyocera CEO will take up role of CEO of the new company, which will focus on products for video, imaging and networking. Subject to regulatory approvals, the new company is scheduled to enter into operations by early 2015, and the shareholders plans listing of the firm on the stock market within few years. Holding 40 percent stake in the company, the DBJ will contribute financing from the 'Fund for Japanese Industrial Competitiveness' and Fujitsu will hold 40 percent and the remaining 20 percent to be held by Panasonic. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). |