BenQ dials up Siemens business

Ambitious acquisition creates the fourth largest handset maker and largest mobile phone tech firm in Greater China
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In a strong indication of the future nature of convergence, tech giant BenQ has further diversified its product portfolio with the acquisition of the mobile devices business of Siemens AG.

The acquisition will create the world?s fourth-largest handset maker, and the largest mobile phone technology company in Greater China, bringing BenQ?s combined annual revenues to US$10.9 billion.

?Today marks the next step in bringing BenQ?s enjoyment philosophy to the worldwide market,? said K.Y. Lee, BenQ Chairman & CEO (pictured). ?The acquisition of Siemens? mobile handset business allows us to bring the strengths of both companies together, enhancing our efforts to bring mobile handsets that reflect today?s digital convergence.?

?With this partnership, we have found a sustainable solution for our mobile handset business,? said Klaus Kleinfeld, CEO of Siemens AG. ?BenQ and Siemens are two mutually complementary companies that each have many strengths to bring to the table.?

The acquisition will create an intellectual property leader in the mobile handset industry. BenQ will have access to Siemens? portfolio of leading edge intellectual property including essential GSM, GPRS and 3G patents. The intellectual property in addition to the strengths of both companies will create a global mobile handset leader.

With this move it is clearer than ever that the line separating the computer and telecommunications industries is becoming ever more blurred.

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