HP to Form Internet Venture With Marubeni, Hitachi
February 27, 1999 - 0:0
TOKYO U.S computer giant Hewlett-Packard Co. will form a computer joint venture in Tokyo with Japan's major trading house Marubeni Corp. and electric machinery maker Hitachi Ltd., the firms said Thursday. The three companies will set up a joint firm, Hewlett- Packard Solutions Delivery Ltd., by the end of March, they said in a joint statement. The new company will help clients build network systems incorporating Internet technology.
The joint venture would help corporations shift from mainframe computer systems to open-network capabilities, the firms said. Hewlett-Packard will have a 51 percent stake in the venture, which would target 10 billion yen ($83 million) in sales in the first year of its operation starting on April 1, they said. Marubeni's shareholding in the venture will be 34 percent, with Hitachi's unit, Hitachi Software Engineering Co. Ltd., taking up the remaining 15 percent.
(AFP)
The joint venture would help corporations shift from mainframe computer systems to open-network capabilities, the firms said. Hewlett-Packard will have a 51 percent stake in the venture, which would target 10 billion yen ($83 million) in sales in the first year of its operation starting on April 1, they said. Marubeni's shareholding in the venture will be 34 percent, with Hitachi's unit, Hitachi Software Engineering Co. Ltd., taking up the remaining 15 percent.
(AFP)