UNQUOTE

GERMANY - Grainville Baird leads buy-out of Siemens division

  • Mareen Goebel
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A consortium including Granville Baird and T-Mobile Venture Fund have acquired the wireless modules business of Siemens AG for an undisclosed sum. The transaction is expected to close in the second quarter of 2008.

Siemens Wireless Modules was previously part of the Siemens Sensors and Communication business unit of Siemens AG. Siemens Wireless Modules is a global player in wireless modules used in machine-to machine applications. The Siemens business unit was formed in 1999 and has sales offices throughout the world, with the head office in Munich.

Siemens Wireless Modules has over 400 employees.

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