Japan's Fujitsu to buy New Zealand IT systems developer for 3 bln yen - report
Tuesday, October 02, 2007; Posted: 07:18 PM

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-- Electronics company Fujitsu Ltd plans to acquire New Zealand information systems developer Infinity Solutions Ltd for 3 billion yen, the Nikkei reported on Wednesday, without citing sources.

The transaction will be conducted through Fujitsu New Zealand Ltd and is slated for completion by October 16, the business daily said, without citing sources.

Infinity has 250 employees and recorded sales of some 5 billion yen in fiscal 2006, it said.

The acquisition will double sales of Fujitsu New Zealand to 10 billion yen in fiscal 2007, it said.

New Zealand's IT market is worth about 250 billion yen and is reportedly growing more than 6 percent a year, the business daily said.

(1 US dollar = 115.81 yen)

yasuhiko.seki@thomson.com

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