Axon Infotech acquires Quasar Innovations

Axon Infotech Ltd has informed that the Company has decided to acquire 51% equity stake in Bangalore based Quasar Innovations Pvt. Ltd. Quasar provides OEN & Network operators with device engineering from concept to finish. Quasar works in applications to create flawless, high performance terminal devices with shortened time to market and robust components.

Quasar possesses the necessary sensitivity to aesthetics as well as the industrial and mechanical design skills to provide with a device that can garner top-of-the-mind awareness, and high marketplace visibility. Quasar has consolidated 500 man-years of experience over its 200 employees, in areas such as custom circuitry, embedded systems and application software, telecom and networking protocols, device-critical components, operating systems, hardware platforms, radio frequency design, digital hardware design, verification, validation, testing and certification. Quasar specializes in creating high performance, user-friendly terminals ranging from cellular phones, PDAs, tablet PCs, Internet Appliances, Portable audio and video players, function specific kiosks and just about any fixed, portable or wearable appliance.

Quasar's focus is untethered wireless devices, based on its years of experience with wireless telecom (GSM / GPRS / IXRTT,CDMA2000,UMTS), wireless networking (802.l1 a, b and c [WiFi]) and short range wireless (Bluetooth,IR) domains. The Company is currently involved in building a range of cutting-edge GPRS handsets for Fortune 1000 Company's, acknowledged widely as among the world's fastest growing telecommunications service providers.

The Company's resource pool is headed by engineers who have handled product design, definition and development at the world's top phone manufacturers, including MOTOROLA, QUALCOMM AND KYOCERA. Quasar has equipped itself to design and build flawless products, regardless of how ambitious your concept may be.

Quasar's rich expertise in the wireless design and development area not only contributes to its project management expertise, but also provides its customer's the choice to license specific IP such as Quasar's SyncML synchronization software and Bluetooth profiles. Quasar's unique 'Virtual ODM' model offers a one stop solution for its customer's looking to engineer robust, cuffing edge, purpose-specific devices with minimum rollout time, and quick engineering turnaround against subsequent releases.

Quasar for the year 2006-07 has done a Topline of Rs 10.77 crores and expected to a topline of Rs 25 crores for the year 2007-08.

The Company has entered into an MOU with Quasar for acquiring 51% equity stake and the necessary formalities are under implementation currently. The consideration payment for the acquisition of stake sale is going to be completed latest by November 06, 2007.

Commenting on the above the Director of the Company Mr. Ramakrishna Dutt stated that it's a win scenario for both the Company and Quasar.