Sumisho Computer Systems, Sumisho Electronics to Merge
March 31, 2005
Tokyo, March 31 (Jiji Press)–Sumisho Computer Systems Corp. and Sumisho Electronics Co. said Thursday they have agreed to merge on Aug. 1.
Under the deal, each Sumisho Electronics share will be exchanged for 0.58 Sumisho Computer share. Both companies are system integrating subsidiaries of trading house Sumitomo Corp. .
The merger is designed to combine Sumisho Computer’s prowess in software development and outsourcing systems with the marketing and procurement networks of Sumisho Electronics to create a leading information technology company, the two companies said.END