Gemini Communication, a leading player in the wireless networking and Wimax solutions space, on Friday said it has acquired a majority stake in Sanat Technologies for an undisclosed amount.
In a filing to the Bombay Stock Exchange, Chennai-based Gemini Communications said it has acquired a 51 per cent stake in Sanat Technologies.
The acquisition would strength Gemini's focus on design, development and marketing of unique product solutions.
“We are planning to get in to the storage space for sometime now. Sanat is a very innovative company and in a very short span it has been able to attain a stable position. We are keen to retain and grow the senior management of Sanat Technologies,'' Gemi ni Chairman Mr R Ramkumar said.
Sanat Technologies is a unified network solutions provider, which offers an integrated solution that enables storage, delivery, and management of network data. ''…the final infusion from Gemini would greatly help us to invest in brand building and int ernational sales, while we would leverage on Gemini's pan India presence to market our products in India,'' Sanat Technologies Director Mr VS Vasan said.
Source: Business Line