Wednesday, May 22, 2024

Fujitsu Ireland recapitalised just months before announcing wind down

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Parent provided funds after challenges relating to moving some business away from Russia

Fujitsu Ireland secured €24.5 million from its Japanese parent to recapitalise the subsidiary just six months before announcing plans to wind down the business locally, new filings show.

The Japanese IT services firm late last month announced that it no longer intends to pursue business opportunities in the Irish market.

It is to instead wind down the Irish unit, save for maintaining a skeleton staff to fulfil existing customer contracts, some of which span way …

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