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Siemens AG Wittelsbacherplatz 2 80333 München, Germany http://www.siemens.com
Contact Marc Langendorf +49 89 63637035
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Siemens AG

Siemens partners with The Gores Group in a joint venture to grow SEN

Siemens with a stake of 49% in JV - Total investment of €350 million to fund growth The Gores Group will contribute two assets Enterasys and SER Solutions to the joint venture

(PresseBox) (München, )
Siemens has decided on a partner for its enterprise communications business. The Gores Group, an American investor, will acquire a 51% stake in Siemens Enterprise Communications (also known as SEN). "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," noted Alec Gores, founder and chairman of Gores. Siemens will retain a stake of 49%. "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
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