Electronics and engineering conglomerate Siemens AG has completed the separation of its telecommunications and multimedia business into a new subcompany.
The unit has been renamed Siemens Convergence Creators and will be run by a Siemens-owned holding company based in Vienna, Austria, Siemens said Friday.
SCG was formerly run by Siemens’ communication, media and technology group, which recorded $203 million in fiscal year 2011 revenue.
Siemens Convergence Creators offers products and services in multimedia infotainment, communications networks, service and customer management, public security and aerospace technology to customers in more than 70 countries.
Daniel-Rui Felicio, CEO of Siemens Convergence Creators Holding GmbH, said Siemens aimed to give the subcompany entrepreneurial independence to identify and shape market developments for customers.
The sub-company has 2,000 employees in Austria, China, Croatia, the Czech Republic, Germany, Hungary India, Romania and Slovakia.