Fujitsu to Buy Telstra Unit

Fujitsu has entered into an agreement to acquire 100% of shares in KAZ Group from Telstra for A$200 million

March 2, 2009

1 Min Read

SYDNEY -- Fujitsu, a leading provider of business, information technology and communications solutions, has entered into an agreement to acquire 100 percent of shares in KAZ Group Pty Ltd from Telstra Corporation Limited for A$200 million, subject to regulatory approval.

This investment confirms Fujitsu's commitment to invest in and grow its Australian business as well as boost Fujitsu's position in the Australian market. This acquisition will make Fujitsu the third largest IT company, by revenue, with a team of nearly 5,000 across the country.

The strength of KAZ's existing business and the synergies it brings to Fujitsu will deliver new and exciting commercial opportunities. Fujitsu's expanded customer base and enhanced end-to-end capabilities also bring a new level of competition to the Australian market creating better value for existing and future customers.

The deal also creates a strategic alliance between Fujitsu and Telstra Enterprise & Government that builds on the existing working relationship and provides new opportunities in the Australian market. With a strong track-record working with Australian governments, particularly at the state level, the acquisition of KAZ gives Fujitsu enhanced service capabilities for Federal public sector opportunities and a strong physical presence in Canberra.

"The acquisition is in line with Fujitsu's long-term objectives to grow its Australian business," said Mr. Richard Christou, Fujitsu's Corporate First Senior Vice President and President of Global Business Group.

"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," Mr. Christou said.

Fujitsu Ltd. (Tokyo: 6702; London: FUJ; OTC: FJTSY)

Telstra Corp. Ltd. (ASX: TLS; NZK: TLS)

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