Gemini Communication to take over PointRed Technologies

Networking company Gemini Communication has announced that they are acquiring PointRed Technologies, which is based in the Silicon Valley.

PointRed Technologies is primarily in the business of providing broadband wireless access technologies. The two companies have signed on a memorandum of understanding for this deal.

PointRed is funded by Acer Technology Venture America which includes both equity and loan components. Gemini Communications would be funding this deal through cash and issuing of equity capital.

Acer Technologies is expected to keep a minor stake in the company after the deal completes. The deal is expected to help Gemini Communication garner a five per cent share of the international market over the next 12 months.

Popularity: 7%