Financial Daily from THE HINDU group of publications
Sunday, May 28, 2006
Financial Daily from THE HINDU group of publications Sunday, May 28, 2006 |
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Info-Tech
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Mergers & Acquisitions Gemini Comm acquires PointRed Our Bureau
Mr Vijay Kumar
Chennai , May 27 Gemini Communication Ltd, the Chennai-based provider of information technology solution, has acquired PointRed Technologies, a $1.5 million (Rs 6.7 crore) Silicon Valley-based broadband wireless access product company. Talking to presspersons, Mr Vijay Kumar, Chairman, declined to give the value of the deal. The acquisition would help Gemini have a presence in the global markets, including Afghanistan, Ecuador and Ghana, where PointRed is present, he said. PointRed got $9 million funding from Acer Technology Venture America. Post acquisition, which would be through a mix of cash and equity, Acer would have a small stake in Gemini. The American company has a manufacturing facility in Taiwan and a design centre in Bangalore, and its clients include HCL and Bharti, Mr Kumar said.
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