▁sell ▁the ▁defence ▁arm ▁of ▁S iem ens ▁P les sey ▁to ▁British ▁A eros pace ▁( BA e ) ▁and ▁a ▁German ▁a eros pace ▁company , ▁Da im ler Ch rys ler ▁A eros pace . ▁B A e ▁and ▁D AS A ▁acquired ▁the ▁British ▁and ▁German ▁divisions ▁of ▁the ▁operation ▁respectively . ▁ ▁In ▁October ▁ 1 9 9 7 , ▁S iem ens ▁Fin an cial ▁Services ▁( S FS ) ▁was ▁founded ▁to ▁act ▁as ▁a ▁compet ence ▁center ▁for ▁finan cing ▁issues ▁and ▁as ▁a ▁manager ▁of ▁financial ▁ris ks ▁within ▁S iem ens . ▁ ▁In ▁ 1 9 9 8 , ▁S iem ens ▁acquired ▁West ing house ▁Power ▁Generation ▁for ▁more ▁than ▁$ 1 . 5 ▁billion ▁from ▁the ▁CBS ▁Corporation ▁and ▁moving ▁S iem ens ▁from ▁third ▁to ▁second ▁in ▁the ▁world ▁power ▁generation ▁market . ▁ ▁In ▁ 1 9 9 9 , ▁S iem ens ' ▁sem icon duct or ▁operations ▁were ▁sp un ▁off ▁into ▁a ▁new ▁company ▁called ▁Inf ine on ▁Techn ologies . ▁Its ▁Elect rome chan ical ▁Com ponents ▁operations ▁were ▁converted ▁into ▁a ▁leg ally ▁independent ▁company : ▁S iem ens ▁Elect rome chan ical ▁Com ponents ▁GmbH ▁& ▁Co . ▁K G , ▁( which , ▁later ▁that ▁year , ▁was ▁sold ▁ ▁to ▁Ty co ▁International ▁Ltd ▁for ▁approximately ▁$ 1 . 1 ▁ ▁billion . ▁ ▁In ▁the ▁same ▁year , ▁S iem ens ▁N ix dorf ▁Inform ations system e ▁AG