Siemens Wireless Modules has become Cinterion Wireless Modules, after a buyout led by private equity firm Granville Baird, the company said yesterday.
Investors included the company’s management and T-Mobile Venture Fund.
The company cited Gartner data that showed it holds 34% of the M2M market worldwide and claimed that share reflected market leadership.
Cinterion, as with Siemens before it, focuses on GSM-based solutions in such industries as the automotive sector, e-toll systems, metering, remote maintenance, security and tracking.
The company henceforth will focus on new vertical and regional markets, launching next-generation technologies and its solutions business, known as M2M One, the company said in a prepared statement.
Cinterion has more than 400 employees and will be headquartered in Munich, Germany, while developers will be based in Berlin and Wroclaw, Poland.
Siemens’ M2M unit taken over by indie investors
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