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Global
News
June
9, 2005
BenQ
acquires Siemens' entire mobile phone business
GERAMNY
-- The Taiwan-based BenQ Group, which also produces
mobile phones in addition to other consumer electronic
products like digital cameras, scanners and LCD screens,
will acquire Siemens' entire mobile phone business with
more than 6,000 employees worldwide. The business will
be headquartered in Munich. The closing of the deal
is expected in the fourth quarter of Siemens' fiscal
year 2005.
K.Y. Lee, chairman and CEO, BenQ, added: "With
the acquisition of Siemens's mobile phones business,
we are rapidly approaching our goal to become one of
the world's leading players in the mobile phone industry.
Our expansion strategy will be strongly supported by
this deal, as we can rely on a global organisation with
excellent employees, a well-established blue-chip customer
base in the mobile business and a strong brand with
high impact."
Klaus Kleinfeld, CEO, Siemens, said: "With this
partnership, we have found a sustainable perspective
for our mobile phones business. BenQ and Siemens complement
one another ideally. We will be uniting our strengths
with BenQ's highly successful consumer business. In
addition, we also complement one another perfectly in
terms of geography. This will give BenQ, which up until
now has been very strong in Asia, access to the European
and Latin American markets where we hold leading positions.
Siemens AG will invest in BenQ by purchasing shares
of the company. The transaction also includes the rights
to the brand and name, which BenQ will be allowed to
use for a total of five years."
Lothar Pauly, CEO, Siemens Communications Group, commented:
"Siemens will continue to offer its customers in
the telecommunications industry one-stop shopping for
all their needs. With BenQ, we have found a partner
who will supply us with the corresponding products.
In addition, we will be collaborating closely in the
R&D. We also intend to utilise synergies in jointly
addressing customers and in our selling operations."
Contact:
Siemens
Tel: +49-89 636 33470
eberhard.posner@siemens.com
at
www.siemens.com
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