Fujitsu+Panasonic Silicon Venture Gets Funded

Fujitsu Semiconductor and Panasonic received funding support from Development Bank of Japan for a new venture that would combine certain semiconductor assets from each company.

Based on the agreement reached so far, Fujitsu, Panasonic and DBJ have agreed that DBJ will make a maximum investment of 20.0 billion yen in equity capital in the new company and will provide a maximum credit line of 10.0 billion yen to the new company. As a result, at the time of the business integration, it is expected that the ratio of voting rights held in the new company by Fujitsu, Panasonic and DBJ will be 40%, 20%, and 40%, respectively. The new company will operate independently.

http://www.fujitsu.com/global/news/pr/archives/month/2014/20140423-01.html