Private equity firm Gores Group LLC on Tuesday took a 51 percent stake in Siemens AG-owned Siemens Enterprise (SEN), effectively creating a joint venture. And it’s a joint venture with the big goal of taking on market leader Cisco Systems Inc. as a dominant player in the voice-data enterprise IT game.
Operating under the Siemens name, the JV will be merged with Gores-owned IT security company Enterasys and contact center powerhouse SER Solutions, and will receive a $550 million investment from its parents to get the ball rolling.
The announcement ends a long period of uncertainty for SEN, which has been on the block for two years, reportedly at one point the target of rival Avaya Inc..
ComputerWorld: Gores Group to buy 51% of Siemens Communications division
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October 16 2019 @ 18:12:06 UTC