BBC Tech Gets New Moniker, Owner

BBC Technology is now Siemens Business Services Media Holdings Ltd., as Siemens/BBC deal closes.

Siemens Business Services has finalized a deal worth almost $3.7 billion over 10 years to deliver technology services to the BBC. As part of the deal, Siemens has acquired BBC Technology, a commercial subsidiary of the BCC. It will rename BBC Technology Siemens Business Services Media Holdings Ltd.

The two-part deal, covering both the outsourcing contract and acquisition--the first of its kind in the media industry--puts Siemens Business Services in a good position to achieve its strong growth aspirations in the media and broadcast marketplace. Siemens Business Services will expand services already delivered by BBC Technology and enable further expansion in the external market.