Feeds

Fujitsu sloshes £800m into lukewarm UK pension bathtub

Bumpkin broadband? Bah, urban pipe is where's it's at

High performance access to file storage

Fujitsu has announced plans to pump £800m into its British business. The Japanese tech giant was last seen dropping out of the race for £530m in taxpayers' cash to install broadband in Blighty's countryside.

The Financial Times reported this morning that the company had decided to invest in the UK wing of the corporation, which has 14,000 staff.

Fujitsu signalled to The Register last week that it will concentrate on bidding for slices of the government's £150m pot of cash set aside to improve city broadband. The tech giant was flagged as "high risk" by some government departments shortly before the company left the race for the half-a-billion-pound subsidy for rural fibre rollouts.

But the company told the FT today that it is growing in the UK public sector particularly in defence and national security. According to the report, Fujitsu will halve the deficit across three of its pension schemes in Britain by injecting £800m into the UK and Ireland business.

Over the past 13 years, the company has apparently pumped £3bn into its Brit biz. In 2012 it spent £40m, of which £14m was splashed on research and development.

Fujitsu's UK boss Duncan Tait told the pink 'un that his firm planned to invest in infrastructure and operations. The company is also said to be eying possible acquisitions.

A spokesman at Fujitsu told El Reg last week that its biz tactics in broadband investment in the country had shifted. He said: "Our focus now is very much on urban and city opportunities with our partners such as CityFibre Holdings."

These are potentially crucial public-sector opportunities Fujitsu won't want to miss out on, considering the Chancellor's lack of financial support offered to the British technology market during his bleak Budget Statement to MPs last week. ®

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.