Panasonic Mobile Communications and NTT DATA Corp. announced they have reached a basic agreement on a capital and business alliance on Panasonic Mobile & System Engineering (“PMSE”), a wholly owned subsidiary of Panasonic Mobile. NTT DATA will take over 60 percent of the shares issued by PMSE and establish the new, yet to be named, company in Yokohama by October 2008.

According to the press press release:

Panasonic Mobile will gain its competitiveness in both qualities and cost advantages in the field of software development of mobile phone, which requires greater sophisticated and diversification of functions, by introducing NTT DATA Group’s technologies and know-how of system development and experience in the solution business. This partnership will enable Panasonic Mobile to strengthen its development capabilities in the technology of product differentiation and reinforce its competitiveness in the mobile phone business which is one of core businesses in Matsushita Group.

NTT DATA regards this capital and business alliance as the significant partnership in the field of embedded software which is the “Growth Engine” in its Medium-Term Management Plan. Through this strategic partnership with Panasonic Mobile, NTT DATA will contribute to the business expansion of Panasonic Mobile and strive to expand its embedded software business for a broader customer base by PMSE with its considerable experience and expertise in the field of embedded software.

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