Axon Infotech announced that the company acquired 51% stake in Bangalore-based Quasar Innovations.
The company mobilized funds through unsecured loans and invested the same for the purpose of acquisition of 51% stake. Firstcall India Equity Advisors organized the funds for the company for acquiring 51% stake.
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Bangalore-based 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`s focus is untethered wireless devices, based on its years of experience with wireless telecom (GSM / GPRS / IXRTT, CDMA 2000, UMTS), wireless networking (802.11 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.
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.
The company has appointed recently Satish Kumar Manocha as the director on the board.
Source: My Iris