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Fujitsu and Panasonic to consolidate system LSI businesses in new company

Fujitsu Limited and Panasonic Corporation are to consolidate the design and development functions of their system LSI businesses.

With the backing of capital contributions from third-party investors, Fujitsu and Panasonic will establish a new company under a fabless business model, enabling LSI design and development functions.

At the same time, the two companies have agreed to discuss the transfer of business to the new company. In establishing the new integrated company, Development Bank of Japan (DBJ) has been asked to assist with investment and financing.

Fujitsu and Panasonic are currently engaged in detailed discussions with the goal of promptly finalising a contract.

Morrison & Foerster is legal adviser to Fujitsu. The deal team is being led by MoFo Tokyo-based corporate partners Kenneth Siegel and Saori Nakamura.

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