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Panasonic, Fujitsu in broad agreement to form chip company - sources

Published 15/04/2014, 00:49

TOKYO (Reuters) - 20:6752 and 20:6702 have reached a basic agreement to form a company this autumn as part of their plan to combine their chip design and development operations, two sources familiar with the matter said on Tuesday.

The new company will have be capitalised at 50 billion yen (293.5 million pounds), with Fujitsu injecting 20 billion yen, Panasonic 10 billion yen and Development Bank of Japan providing the rest, the sources said.

Panasonic and Fujitsu plan to transfer some 3,000 workers to the new company, they said.

(Reporting by Reiji Murai; Writing by Dominic Lau; Editing by Chang-Ran Kim)

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