Fujitsu Ltd, said on Friday it plans to boost investment in cloud computing by 54 percent this year to beef up its operations in one of the IT sector's hottest areas. It will also seek more global partnerships and acquisitions to expand its software and product offerings, and key targets will include software firms, president Masami Yamamoto told a news conference.
Fujitsu, the world's third biggest IT services vendor after IBM and Hewlett-Packard, plans to spend $1.1 billion or the majority of what it has allotted for its annual capital expenditure, on its cloud-computing business by March 2011. “This field offers new challenges but it is also a business chance with big growth potential,” Yamamoto told a briefing. “We will make a groupwide effort to build up our cloud business this year.” For the current year to March, Fujitsu expects operating profit to double to 185 billion yen. The company kept its 2011/12 targets for 250 billion yen in operating profit and 130 billion yen in net profit.