Fujitsu sells power modules business to India’s L&T for $13.8 M
The business will be bought by L&T’s semiconductor arm. Separately, Kaynes Semicon (KS) will acquire the production facilities related to the power modules business from Fujitsu.
India’s Larsen & Toubro group will acquire the power modules business of Fujitsu for 2 billion yen (USD 13.8 million) as part of its expansion strategy.
The business will be bought by L&T’s semiconductor arm. Separately, one of L&T Semiconductor Technologies’ manufacturing contractors, Kaynes Semicon (KS), will acquire the production facilities related to the power modules business from Fujitsu, according to a report in The Times of India.
KS is a wholly owned subsidiary of Kaynes Technology India.
Iwate, Japan-based Fujitsu General Electronics Limited (FGEL) deals with electronic device and communications equipment manufacturing.
“FGEL is involved in developing, manufacturing, and selling electronic devices and manufacturing equipment for information and communications in the Tech Solution Business,” Fujitsu’s notice reads. “The Company has decided to transfer the Business as part of a portfolio transformation of the Electronic Device Business in line with strengthening the Company group’s business foundations.”
The deal is expected to be completed by June 23, following clearance under Japan’s foreign exchange and foreign trade rules.
“This transfer is aligned with our strategy to optimize our business portfolio and focus on core growth areas,” Koji Masuda, president and chief executive of Fujitsu General, said in an official statement, according to Press Insider.
