Siemens to Buy Internet Firms

Siemens, Europe’s No. 3 phone equipment maker, agreed to buy two Internet equipment companies and took a stake in a third as part of a $1-billion investment to strengthen its data-networking business. The company bought Argon Networks Inc. and Castle Networks Inc., both closely held, for an undisclosed amount and will take a stake in Moorpark-based Accelerated Networks Inc. The purchases will be folded into Unisphere Solutions Inc., an independent U.S. subsidiary for its data-networking operations. Siemens is using acquisitions to gain expertise in the data equipment market.