Chennai based networking company Gemini Communications Ltd. has agreed to buy PointRed Technologies, a Silicon Valley based wireless product company, to enable it to access international wireless technology market. As apart of this, the company plans to target Middle East and North American markets, besides Europe. Financial terms of the transaction has not been disclosed.
The company said the acquisition would bring in additional expertise and a range of products to Gemini’s offerings. The acquisition would be funded through internal accruals, Gemini said.
PointRed has a manufacturing facility in Taiwan and a research and development centre in Bangalore.
Gemini, which posted a turnover of Rs 126 crore in the last financial year, expects to touch Rs 200 crore this financial year. The company has a presence in about 70 locations across the country. Some of its domestic customers include MTNL, VSNL, Airtel, BSNL and Idea Cellular, among others.
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