Siemens India, engineering firm has stripped its entire stake in Siemens India Systems (SISL) to a subsidiary of Siemens AG for Rs.449 crore.
Siemens AG has also bundled three sectors of SISL’s software business industry, energy and healthcare by creating a central software house under the Corporate Technology department for its captive business. The new SISL is expected to have a dual mandate, first as a software factory providing Siemens’s R&D and product development initiatives across the country and second as an offshore development centre for Siemens IT Solutions and Services group for its external customers.