ALPHARETTA, Ga.--(BUSINESS WIRE)--Siemens Wireless Modules announced today that it will be forming 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. This innovative partnership will open a network of industry connections to Wireless Modules and help develop this fast growing industry -- and Siemens' leading position within it -- while providing increased value to customers.

“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, Siemens Wireless Modules business segment.

“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. “Siemens Wireless Modules has been a clear market leader in M2M and have continued to grow our leadership position delivered with outstanding financial performance. With the increased flexibility and focus we look forward to an even greater future performance.”

“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. “With our new level of independence in operations, we’ll be able to react to market and customer needs more quickly to maintain our edge and leadership position while developing the next wave of M2M solutions more quickly. We’ll continue to grow our business profitably while providing a motivating and rewarding work environment for employees.”

The company will maintain its well-proven portfolio with the highest innovation, reliability and competitive pricing. Customers will remain at the forefront of the organization’s efforts with Siemens’ well-established technical support, both locally and with customers’ R&D centers as well as globally.

About Siemens

Siemens Energy & Automation, Inc. is one of Siemens’ operating companies in the U.S. Headquartered in the Atlanta suburb of Alpharetta, Ga., Siemens Energy & Automation, Inc. manufactures and markets one of the world’s broadest ranges of electrical and electronic products, systems and services to industrial and construction market customers. Its technologies range from circuit protection and energy management systems to process control, industrial software and totally integrated automation solutions. The company also has expertise in systems integration, technical services and turnkey industrial systems. For more information: www.sea.siemens.com.

Siemens AG (NYSE:SI) is one of the largest global electronics and engineering companies with reported worldwide sales of $107.4 billion in fiscal 2006. Founded nearly 160 years ago, the company is a leader in the areas of Medical, Power, Automation and Control, Transportation, Information and Communications, Lighting, Building Technologies, Water Technologies and Services and Home Appliances. With its U.S. corporate headquarters in New York City, Siemens has U.S. sales of $21.4 billion and employs approximately 67,000 people throughout all 50 states and Puerto Rico. Eleven of Siemens’ worldwide businesses are based in the U.S.