ALPHARETTA, GA–Siemens Wireless says that it will form a stand-alone entity once the purchase of its business unit is complete in the second quarter of this year.

T-Mobile Venture Fund and private equity investor Granville Baird plan to purchase Siemens AG’s Wireless Modules business as part of a leveraged buy out, pending government approvals. T-Mobile Venture Fund will be involved in the future company with a minority interest.

The entire management and all of the 400-plus employees are to be transferred over to the new entity.

“We’re very enthusiastic about this investment and strategic move to establish a new, more dynamic company,” said Peter Fowler, general manager NAFTA, Siemens Wireless Modules.

“This new partnership is the best of all worlds. We’re able to become a more flexible organization to further stimulate product and service innovation while maintaining our strong portfolio of products, operations, R&D and staff across the board. There will be virtually no impact on customers at all,” Fowler added.

On the Web: www.sea.siemens.com

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