Fujitsu to buy Telstra's IT unit in Australia

Mar 02, 2009

Japan's Fujitsu Ltd. said Monday it had agreed to buy Australian telecoms giant Telstra's IT services unit for 200 million Australian dollars (127 million US).

The acquisition of KAZ Group will make Fujitsu the third largest IT company in Australia by sales, the Japanese electronics maker said.

"The acquisition is in line with Fujitsu's long-term objectives to grow its Australian business," senior vice president Richard Christou said in a statement.

Fujitsu is struggling with a global slump in demand for chips and electronic devices.

The announcement comes just days after Telstra said its chief executive Sol Trujillo was leaving the company after profits slipped.

Telstra said Monday it no longer considered the IT services business to be a core part of its strategy.

(c) 2009 AFP

Explore further: Domino's taking orders via tweet

Related Stories

Q&A: Why are antibiotics used in livestock?

3 hours ago

Wal-Mart, the world's biggest retailer, is the latest company to ask its suppliers to curb the use of antibiotics in farm animals. Here's a rundown of what's driving the decision: ...

Recommended for you

PayPal's new chief promises new services for a mobile world

May 21, 2015

As PayPal prepares to split from its corporate parent, its new chief executive is promising to expand the popular online payment system, adding a variety of services for consumers to use when shopping on their phones or in ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.