Siemens and BenQ to forge partnership

by MobiGates — published on June 7th, 2005

The Taiwan-based BenQ Group, which also produces mobile phones in addition to other consumer electronic products like digital cameras, scanners and LCD screens, will acquire Siemens entire mobile phone business with more than 6,000 employees worldwide. The business will be headquartered in Munich. The closing of the deal is expected in the fourth quarter of Siemens fiscal year 2005.
Siemens will invest in BenQ by purchasing shares of the company. In addition, the transaction also includes the rights to the brand and name, which BenQ will be allowed to use for a total of five years.

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