Sydney, May 4, 2009 - (JCN Newswire) - Fujitsu, a leading provider of business, information technology and communications solutions today confirmed the acquisition of KAZ Group Pty Ltd from Telstra Corporation Limited, following receiving approval from the Foreign Investment and Review Board (FIRB).
In March 2009, Fujitsu initially announced its intention to acquire 100 percent of shares in KAZ Group from Telstra Corporation Limited for A$200 million. Fujitsu has now obtained regulatory approval, granted by the FIRB to move forward on the acquisition. This merger boosts Fujitsu's position to the 3rd largest ICT Company in the Australian and New Zealand market, with a team of nearly 5,000 across the country.
The transaction marks another successful milestone as Fujitsu continues its corporate growth strategy to continually improve and enhance end-to-end capabilities. The strength of KAZ's existing business expands Fujitsu's capabilities to a new level in the Australian market creating better value for existing and future customers. The deal also creates a strategic alliance between Fujitsu and Telstra that builds on the existing working relationship and provides new opportunities for both organisations.
"This acquisition is all about growth and job security for a strengthened Fujitsu business in our local market," said Mr. Rod Vawdrey, CEO Fujitsu Australia and New Zealand. "The merger will ensure retention of local expertise and will enhance our ability to present a strong local footprint in the Australian market."
With a strong track-record working with Australian governments, particularly at the state level, the acquisition of KAZ gives Fujitsu enhanced service capabilities for Federal public sector opportunities and a strong physical presence in Canberra.
About Fujitsu
Fujitsu is a leading provider of IT-based business solutions for the global marketplace. With approximately 175,000 employees supporting customers in 70 countries, Fujitsu combines a worldwide corps of systems and services experts with highly reliable computing and communications products and advanced microelectronics to deliver added value to customers. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 4.6 trillion yen (US$47 billion) for the fiscal year ended March 31, 2009. For more information, please see: www.fujitsu.com.
Contact:
Tracy Weller-McCormack
Marketing Manager
Fujitsu Australia and New Zealand
Tel: +61 2 9113 9225
Mobile: +61 414 827 044
E-mail:tracy.mccormack@au.fujitsu.com
May 4, 2009
Source: Fujitsu
Fujitsu (TSE: 6702) (U.S: FJTSY)
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
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