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Technology Stocks : Quintus (QNTS)

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To: J. P. who started this subject	10/25/2000 3:49:40 AM
From: bob zagorin	Read Replies (1) of 139

Siemens Buys 19.9% Stake in Quintus of the US for $72 Million (Bloomberg) -- Siemens AG, Germany's biggest electronics company, agreed to buy a 19.9 percent stake in Quintus Corp. for $72 million in cash as part of an alliance to expand its Internet-related business overseas. Siemens's Information and Communication Networks division and Freemont, California-based Quintus will form an alliance in Internet protocol, Siemens said. The investment is part of a plan to move more of the German company's business to the Web. ``Expanding our IP business is an essential factor for the success of our corporate mobile business strategy,'' Siemens unit head Roland Koch said in a statement before a briefing. Quintus, whose shares have lost 80 percent since a July 14 high for the year, provides e-mail and Internet systems to clients including Anheuser-Busch Cos., Citigroup Inc., Lucent Technologies Inc. and Procter & Gamble Co., the company said when it went public in November. Siemens Information and Communication Networks Group provides voice and data networks with equipment for high-speed Internet access and other services. The unit generates annual sales of 9.9 billion euros. Oct/25/2000 3:12 ET

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