Lenovo pays $245m for majority stake in Fujistu PC arm

Tech giant Lenovo secures 51% stake in Fujitsu's consumer PC business.

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Lenovo announced it will purchase a majority in Fujitsu's Client Computing branch in an effort to bolster its reduced PC market share.

Lenovo pays $245m for majority stake in Fujistu PC arm | TweakTown.com

Lenovo and the Development Bank of Japan have coordinated to acquire stake in Fujitsu's computing branch, with Lenovo purchasing a majority share at 51% and DBJ receiving 5% in the deal. Fujitsu will net about $245.45 million (28 billion yen) as part of the purchase contract, of which Lenovo will pay about $156.7 million in cash.

"The joint venture will focus on the research, development, design, manufacturing and sales of Client Computing Devices (CCD) for the global PC market," reads the press release announcement.

"Through this strategic collaboration, Fujitsu and Lenovo aim to drive further growth, scale and competitiveness in the PC businesses both in Japan and worldwide," the joint statement said. "The joint venture will leverage Fujitsu's capabilities in global sales, customer support, R&D, highly-automated and efficient manufacturing and systems integration that meet customers' demand. Furthermore, it will benefit from Lenovo's global scale and presence."

As per its Q2 earnings, Lenovo reported a profit decline and its first loss since 2015.

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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