T-Mobile and a Private Equity purchase Wireless Modules Business from Siemens

Bonn, March 4, 2008
T-Mobile Venture Fund and private equity investor Granville Baird today announced the planned purchase of Siemens AG's Wireless Modules business as part of a leveraged buy out. T-Mobile Venture Fund will be involved in the future company with a minority interest. By agreement, the purchase price remains confidential. Subject to the approval of the competent authorities, the purchase is to be concluded in the second quarter of 2008. The entire management and all of the 400-plus employees are to be transferred over. "Siemens Wireless Modules is a global leader in the machine to machine market – a market with excellent growth potential. Together with T-Mobile, we plan to make great use of this growth, which will allow us to expand our leading position in the market," said Norbert Muhrer, President of the Siemens Wireless Modules business segment.

Siemens Wireless Modules develops and markets mobile communications modules for the machine-to-machine communication market, which are used in diverse branches of industry. Automatic meter readouts, building monitoring, transport logistics systems, payment systems, remote maintenance and automotive communication are just a few examples from this young, dynamic market.

Siemens Wireless Modules and T-Mobile are planning a strategic partnership that will allow them to offer Siemens Wireless Modules customers, alongside the existing modules business, a "one-stop shopping solution" including integrated data transmission and interfaces to existing applications. Philipp Humm, Managing Director of T-Mobile Deutschland is confident: "We have great expectations of the cooperation with Siemens Wireless Modules. Together we are creating an M2M market player that can offer its customers solutions across the globe from a single source. T-Mobile will play an active role in this, contributing to success and customer satisfaction with its expertise in data transmission over high-quality networks."

Siemens Wireless Modules was previously part of the Siemens Sensors and Communication business unit. "We firmly believe that we have found an excellent, promising owner for the Wireless Modules division in the consortium that includes T-Mobile Venture Fund. This provides both the company and the employees with additional prospects for the future," said Hans-Georg Kümpfmüller, CEO of the Siemens Sensors and Communication business unit.

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