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04 Nov 2008
Vendor Fujitsu Siemens Computers (FSC) has ended months of speculation after buying out its German partner's half of the business for about €450m (£360m).
Rumours surfaced over the summer that Siemens was getting cold feet about the joint venture. The German engineering behemoth has weathered some tough times of late and, earlier this year, announced a plan to axe 17,000 jobs in a bid to save over €1bn.
Current FSC chief executive Bernd Bischoff has resigned for personal reasons and will hand over the reins to former chief financial officer Kai Flore. Onlookers have suggested Fujitsu will now focus on higher margin sales of servers, storage and services. The Japanese company is still expected by many to offload the PC business and Lenovo, which bought IBM's PC business, has been suggested as a possible buyer.
Further reading
FSC was founded in 1999 and the second of two five-year agreements between the two vendors ends next year. It currently employs more than 10,000 people, over half of whom work in Germany.
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