The portfolio of Siemens Acceleration in Communications, an early stage investment boutique for start-ups in the communications industry has been sold to an undisclosed investor. Siemens Acceleration is a 100% subsidiary of Siemens Communications and has been backing new start-up companies since its inception in 2001. The terms of the acquisition were not disclosed. The transaction will have no impact on the other venturing units of Siemens AG. The innovation strategy of Siemens will in future be supported by Siemens Venture Capital (SVC), Siemens Technology Accelerator (STA), and Siemens Technology-To-Business Center in Berkeley (TTB), which will continue and expand their activities. The portfolio of Siemens Acceleration comprises around 25 promising companies involved in developing wireless and wireline applications and technologies for the communications industry. The portfolio stretches from Europe and Israel to North America and even greater China.
www.siemens.com/communications