Siemens Wireless Modules Becomes Independent Firm: Cinterion Wireless Modules
MUNICH, Germany — Cinterion Wireless Modules is the new company that emerged from Siemens’ Wireless Modules (WM) business. The highly successful Siemens division, which specializes in producing wireless communications modules for use in the M2M (machine-to-machine) sector, was taken over by a group of investors led by the private equity firm Granville Baird as of June 1, 2008 as part of a buyout. According to a Gartner survey of June 2008, Cinterion Wireless Modules holds a 34% share of the market, which makes it the clear world leader in its field.
Supported by its new industry-experienced owners, including the T-Mobile Venture Fund and the management, Cinterion Wireless Modules will continue the successful growth strategy. The new company will drive its well-known differentiators of innovation, high quality, reliability, and direct global customer touch.
“As market leader with an unmatched global approach Cinterion Wireless Modules is in the pole-position to actively shape the fast-growing M2M market,” says Norbert Muhrer, CEO of Cinterion. “Thanks to our new independence, we will now add two more strong points that are of crucial importance for the business: flexibility and speed. And that is on top of our traditional strengths, such as an innovative portfolio, a farsighted road map, and first-class international customer support.”
Cinterion Wireless Modules will expand its current leading position in the M2M market even further. The enterprise will be focusing further on new vertical and regional markets, on launching new technologies in the 3.5G and 4G arena, and on intensifying its solutions business, known as M2M One.
Cinterion Wireless Modules has taken on the entire management team and over 400 employees. The new company’s headquarters is located in Munich, Germany, while its team of developers will continue to be based in Berlin and Wroclaw, Poland.
About Cinterion Wireless Modules
Cinterion Wireless Modules was founded in June 2008 when Siemens spun off its Wireless Modules business unit. The company specializes in wireless machine-to-machine communication (M2M) based on GSM technology, and is currently the global leader in wireless M2M module production. Cinterion has a broad portfolio of innovative GSM, GPRS, EDGE, and UMTS/HSDPA products designed for use in various fields, such as the automotive sector and the e-toll system, metering, POS systems, remote maintenance, tele-services, industrial PDAs, routers and gateways, security systems, tracking, and tracing, the company also offers a range of comprehensive services. Its M2M One business unit provides all-around M2M solutions. The company has approx. 450 employees around the world and currently has a turnover of around 250 million euros. It is headquartered in Munich, Germany.
COPYRIGHT 2008 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning