Seen on Yahoo Business News: Deutsche Telekom's venture capital arm T-Mobile Venture Fund and private equity investor Granville Baird have announced they plan to acquire Siemens' Wireless Modules business.

From the Yahoo story:

With more than 100 million customers worldwide, Deutsche Telekom is trying to consolidate its market share with such purchases. "Together with T-Mobile, we plan to make great use of this high growth market to expand our position in the market," said Norbert Muhrer, president at Siemens Wireless Modules.

Siemens Wireless Modules, earlier part of the Siemens Sensors and Communication business, develops and markets mobile communications modules for the machine-to-machine communications market. The products are used in automatic meter readouts, building monitoring, transport logistics systems, payment systems, remote maintenance, and automotive communication.

Siemens Wireless Modules and T-Mobile said the partnership will allow them to offer customers "one-stop shopping" including integrated data transmission and interfaces to existing applications. "Together we are creating an M2M market player that can offer its customers solutions across the globe from a single source," said Philipp Humm, managing director at T-Mobile Deutschland.