Siemens wants partners not acquisitions

Siemens gave a very clear statement today that it it not interested in mega mergers or multi-billion dollar aquisitions of Internet companies.

In a clear reference to recent Internet aquistions, senior board executive Volker Jung said "Purchasing a twenty billion dollar corporation with one billion dollar revenues and millions of dollars of debt makes no sense...If I did that at Siemens I would not be at Siemens for long".

Siemens' preferred route is strategic partnerships with industry parners. Business units that cannot achieve leadership by themselves will look for partners to strengthen their offering to customers, and if that doesn't work, then Siemens will look to sell them. Jung was speaking to a pre-CeBit briefing in Berlin today.