Fujitsu Australia, a wholly-owned subsidiary of Japanese owned Fujitsu Limited, is a leading provider of business, information technology and communications solutions. The acquisition of Kaz Group will make Fujitsu Australia the third-largest IT company in Australia, by revenue, with close to 5000 employees.

Kaz is an IT company that holds significant contracts with a number of large companies such as financial services giants ING and AMP, as well as government organisations including the Department of Defence.

An integral part of the transaction with Telstra was that Fujitsu would retain a “key strategic alliance” with the telco to partner with it on future IT services deals.

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The DLA Phillips Fox deal team was led by Partner Mark Burger, who was assisted by Partners Jane Baddeley and Tim Lyons and Senior Associate Johnny Short.

The deal is subject to Foreign Investment Review Board approval.