Mergers and Acquistions News
Categories: IT Services & Consulting
March 4th 2009, 15:13PM
Fujitsu has acquired KAZ Group, the IT services arm of Australian telecoms firm Telstra.
The deal, worth A$200 million (£91 million), sees the Japanese firm extend its reach into the Australian market.
Fujitsu is now the third-largest IT company by revenue in Australia, up from its previous position of fourth.
KAZ is an information and technology subsidiary of Telstra, working as a systems developer predominantly in the public sector market.
Commenting on the acquisition, Fujitsu corporate first senior vice-president Richard Christou says: "The deal brings together two strong businesses and creates an IT services and technology leader that will deliver a broader range of consulting, application and infrastructure services to our Australian customers, as well as the local subsidiaries of our global clients."
Telstra says that IT services were no longer an essential part of the firm's strategy and it would work with KAZ clients to ensure a smooth transition.
A statement last month from Fujitsu emphasised that its European PC business remained a core part of its European portfolio, following media reports suggesting otherwise.
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