Wednesday, March 4, 2009

Sagem to acquire Gigaset's Broadband and WiMAX Business

Sagem Communications has agreed to acquire the broadband and WiMAX businesses of Gigaset Communications, which is a subsidiary of Arques Industries AG and Siemens AG. Financial terms were not disclosed.

"This acquisition should reinforce Sagem Communications' objective to become a world leader in broadband terminals, convergence and digital home solutions" said Patrick Sevian, President of Sagem Communications. "We firmly believe that the global customer footprint and the excellent R&D capabilities of Gigaset will significantly enhance our positioning and the value we provide to our customers".

"The voice business is our core competence and the foundation of our market leadership. That is why we focus on our strengths as a well established, modern and innovative manufacturer of telephones", says José Costa e Silva, CEO of Gigaset Communications. "We are delighted that with Sagem Communications we have found a proficient and well positioned partner in the broadband business."

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