Fujitsu Ltd And Panasonic Corp To Merge Chip Business In Fiscal 2013-Reuters

Wednesday, 6 Feb 2013 09:37am EST 

Reuters reported that Fujitsu Ltd and Panasonic Corp will merge their chip units in the next fiscal year. The two companies will announce on February 7, 2013 after a meeting of Fujitsu's board of directors that they will begin discussions on forming a joint venture. Fujitsu is likely to negotiate to take a majority stake in the venture, which will be a design and development-only firm. According to a source the two are in talks with Development Bank of Japan over funding for the venture. 

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