Siemens Acquires Majority Holding

Siemens Power Transmission and Distribution Group, Erlangen, has acquired an 80 percent stake in the consulting and software houses of FrankenData, also of Erlangen. In March 2000, Siemens entered into a cooperation agreement with the software house, which covers joint development and marketing of applications and joint marketing of services for deregulated energy markets. The two companies will create an international network for development, consulting and implementation of software tools for the deregulated energy market.

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