OREANDA-NEWS. Fujitsu Limited announced that, Fujitsu Semiconductor Limited (FSL), at FSL's board of directors meeting held today, has decided to enter into a definitive agreement to sell its microcontroller and analog business to California-based Spansion LLC and affiliates (Spansion). Fujitsu, at its own board of directors meeting today, has also approved FSL's decision.

In accordance with the restructuring and new direction of Fujitsu's semiconductor business announced on February 7, 2013, Fujitsu and FSL have considered an entire range of possibilities with respect to FSL's microcontroller and analog business, with the aim of offering a stable supply of products to customers and enabling the business to develop. As a result of this process, they have decided that their best option is to sell the business to Spansion, which is a leading designer, manufacturer and developer of Flash memory semiconductors, and they have now entered into a definitive agreement to do so.

In accordance with the agreement concluded, FSL's microcontroller and analog business in Japan, together with the microcontroller and analog business in Japan operated by Fujitsu VLSI Limited and Fujitsu Microelectronics Solutions Limited, which are subsidiaries of FSL, will first be absorbed by Fujitsu Limited. Fujitsu will transfer the business into a new company to be established by FSL, and then all of the shares in the new company will be transferred to one of Spansion subsidiaries in Japan, Nihon Spansion Limited. The assets of the microcontroller and analog business outside Japan, as well as FSL's intellectual property and product inventory related to the microcontroller and analog business, will be transferred to Spansion.

With regards to sales and marketing in Japan, Fujitsu Electronics Inc., a subsidiary of FSL, will continue to support customers in Japan as a distribution agent of Spansion. FSL will also be commissioned to manufacture microcontroller and analog products by Spansion.

FSL and Spansion will continue to cooperate in the establishment of the new company and the smooth transfer of control over the microcontroller and analog business.