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29 Jul 2008
Siemens is to embark on a joint venture with private equity firm The Gores Group, which has acquired a controlling stake in the vendor's enterprise communication arm (SEN).
Gores, which owns call centre management specialist SER Solutions and networking vendor Enterasys, will acquire a 51 per cent stake in SEN, with Siemens retaining the remainder. Both Enterasys and SER will be part of the joint venture.
The companies plan to invest about €175m apiece and Gores will be responsible for running the business on an operational level. Gores chairman Alec Gores said: “We have been looking for an opportunity to expand our presence in the enterprise networking and communications space and this partnership with Siemens provides the perfect fit."
Further reading
Siemens chief financial officer Joe Kaeser added: "We are continuing to intensify the focus of our portfolio on the three sectors, which are Energy, Industry and Healthcare. In Gores, we have found an extremely experienced technology and telecommunications partner, who strengthens the business with the contribution of the two assets Enterasys and SER Solutions. We are confident, that this will benefit the employees and customers in the long term."
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