Lenovo buys a controlling stake in Fujitsu's PC business

Lenovo buys 51% of Fujitsu's PC business for $157M+, as its Q2 earnings beat estimates with revenue up 5% to $11.8B YoY, profit down 11% YoY to $139M

Fujitsu Limited (“Fujitsu”) (TSE: 6702), Lenovo Group Limited (“Lenovo”) (HKSE: 992) (ADR: LNVGY) and Development Bank of Japan Inc. (“DBJ”) today announced a strategic collaboration that creates a joint venture between the three companies. The joint venture will focus on the research, development, design, manufacturing and sales of Client Computing Devices (CCD) for the global PC market.
Fujitsu will sell a 51% stake in its wholly owned subsidiary Fujitsu Client Computing Limited (“FCCL”) to Lenovo and a 5% stake to DBJ.  After the transaction, FCCL will become a joint venture company (“JV”) owned by Fujitsu, Lenovo and DBJ and will continue to be known as Fujitsu Client Computing Limited.

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