Updated Trends: Fujitsu Plans To Up Cloud Computing Venture
The major IT service player of Japan, Fujitsu Ltd, announced it plans to invest heavily in cloud computing one of the hottest IT sectors.
They are going to increase the investment by 54 percent this year that is around $1.1 billion.
It is willing to go for global partnerships and acquisitions to expand its software and online product offerings. They will target software firms with strong technologies or client bases.
With this investment and partnership strategy, Fujitsu aims to grow sales from the operations to 1.3-1.5 trillion yen by 2015/16.
If Fujitsu can achieve it then it would be a quantum increase compared to last financial year.
Fujitsu president, Masami Yamamoto, told a news conference that “this field offers new challenges but it is also a business chance with big growth potential,” he further briefed
“we will make a group wide effort to build up our cloud business this year.”
Fujitsu President said ,”the company can generate about 150 billion yen free cash flow annually, and acquisitions would be a possible use of this cash.”
Fujitsu shares closed at 579 yen up by 2.3 percent.
Fujitsu is ranked third IT services vendor in the world, after IBM and Hewlett-Packard