Text from M2M Magazine Homepage http://ow.ly/1rwNp
One piece of news that had many attendees talking came from Cinterion Wireless Modules,Â Munich, Germany, which issued a release that said its parent company, Cinterion Wireless Modules Holding GmbH, is undergoing a reorganization of its financial structure. The statement said, â€œThe management of Cinterion Wireless Modules Holding GmbH has filed a petition with the responsible Munich District Court for opening insolvency proceedings for Cinterion Wireless Modules Holding GmbH today, Monday, March 22, 2010. Dr. Michael JaffÃ© has been appointed as preliminary insolvency administrator. German insolvency law provides the option of reorganizing the financial structure of a company without compromising the ongoing business operations of subsidiary companies.â€
Cinterion says this reorganization will not affect business operations at Cinterion Wireless Modules. M2M magazine had the chance to sit down with Cinterion Wireless Modulesâ€™ CEO, Norbert Muhrer, who discussed the details of the financial situation. Next week, M2M magazine will provide commentary on this news in greater detail, including insight from international analysts on how they interpret the reorganization.