Network services firm Gemini Communication Ltd. is close to making an acquisition in South-East Asia, a top company official said on Wednesday.
"We are in serious talks with a company in South-East Asia and we will shortly be closing out a deal," Chairman and Managing Director R. Vijaykumar told the media.
The company has set aside 4.5 million euros for the acquisition. The acquisition would be either in the wireless networking or radio frequency identification space, he said.
Recently the company raised 15 million euros from Merrill Lynch International through issue of convertible bonds, which would give the foreign fund a stake of 15 per cent in Gemini upon conversion.
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