Reunert and Siemens South Africa have signed an agreement to transfer Siemens' remaining 60% stake in Siemens Enterprise Communications to Reunert.
With this transaction, the JSE-listed company will hold 100% in Siemens Enterprise Communications. The transaction is still subject to approval by the South African competition authorities. The value of the transaction has not been disclosed.
Gerrit Pretorius, Chief Executive Officer of Reunert, commented on the transaction: “The acquisition of the remaining shares of Siemens Enterprise Communications provides a good opportunity for us to expand in a market that is familiar to the Reunert group.
“Our Nashua businesses will be significantly enhanced by the addition of South Africa's market leader in enterprise systems to its current portfolio of businesses. As a preferred supplier of office automation equipment, mobile telephony solutions, air conditioning systems and communications solutions, Reunert will be poised to meet nearly all needs of today's enterprise customers.”
Lars-Ole Hansen, Senior Vice-President and Head of EMEA Sales at Siemens Enterprise Communications, noted: “Our company is pleased to have Reunert represent us in the South African market. We are confident that our clients here will continue to benefit from the outstanding technologies, products, solutions and services that we supply. The longstanding presence of Siemens Enterprise Communications in the South African market and our well established relationship with the Reunert group will continue to ensure that we provide leading-edge technologies and high quality services to our customers in the communications market.” The agreement is in line with Siemens Enterprise Communications' global indirect channel strategy through which it is targeting growth through enablement of channel and service partners around the world.
With this step, Siemens is rigorously continuing its strategy of focusing on the three sectors: energy, industry and healthcare. In 2008, Siemens funnelled its Enterprise Communications business in a joint venture with the Gores Group, an American investor. After Siemens Enterprise Communications remained untouched by this transaction, it is now becoming a 100% subsidiary of Reunert.
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