EQT Expansion Capital II is financing the acquisition of Siemens Wireless Modules by an equity consortium led by GranvilleBaird
EQT Expansion Capital II has successfully closed its investment in Cinterion Wireless Modules formerly known as Siemens Wireless Modules.
Cinterion, the global market leader in modules enabling wireless machine to machine communication, is a carve-out from Siemens AG and generated € 237.5 million in revenues in 2007. The company currently has 435 employees and is headquartered in Munich.
It is planned to grow Cinterion organically, given the strong market growth. Additionally, Cinterion and T-Mobile are planning a strategic partnership to offer customers of Cinterion in future, besides the existing business with modules, a one-stop-shopping solution including integrated data transfer and interphases to existing applications.
EQT supported GranvilleBaird, the Hamburg based private equity house, and T-Venture, to finance the transaction.