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Panasonic Mobile Communications and NTT DATA Corporation last week announced plans for a partnership to develop a new panasonic Mobile subsidiary to be called Panasonic Mobile & System Engineering Co. (PMSE) - with NTT DATA owning 60 percent of the shares of the new company.

"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," according to a company statement.

"[NTT DATA] hopes the acquisition will triple its software sales to JPY30 billion (USD282 million) by 31 March 2011," according to TeleGeography.

More here from WirelessWeek ... more here from Bloomberg ... more here from Japan Today ... more here from Reuters ... and the press release is here.