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Siemens Ltd. today announced the transfer of its 100% stake in Siemens Information System Ltd. (SISL) to a fully owned subsidiary of Siemens AG. This is pursuant to the change in structure of the global software business, where SISL businesses have also been aligned with the parent group. In the new model, SISL will serve as an internal software factory supporting the R&D and product development initiatives for business sectors globally. It will also focus on increasing its presence in the domestic market and continue to act as an offshore development centre for Siemens worldwide.
Commenting on the development, Dr Armin Bruck, Managing Director, Siemens Ltd. said, “The transfer of 100% stake of SISL from Siemens Ltd. to the parent company is a part of the global strategy. This portfolio realignment will enable Siemens Ltd. to further focus on core businesses of Industry, Energy and Healthcare. At the same time, the integration of SISL with global operations will ensure that their developmental capabilities are harnessed most effectively for the Siemens global growth strategy.”
Siemens Ltd is the flagship listed company in India. Siemens in India, which comprises 22 legal entities, is a leading provider of industry and infrastructure solutions with a business volume aggregating about Rs 11,800 crore. It operates in the core business areas of Industry, Energy and Healthcare. It has nation-wide Sales and Service network, 18 manufacturing plants, a network of around 500 channel partners and employs about 17,000 people.