Axon Infotech to consider merger of Quasar Innovations Pvt Ltd

Axon Infotech Ltd has announced that a meeting of the Board of Directors of the Company will be held on September 19, 2007, inter alia, to consider the Amalgamation of M/s. Quasar Innovations Pvt Ltd, Bangalore with the Company. Quasar provides OEMs & network operators with device - engineering services from concept to finish. Quasar's expertise is applied to creating flawless, high-performance terminal devices with shortened time to market and robust components. Quasar innovations offers turn-key contract manufacturing services to the mobile handset and terminal device market. Quasar's customers include Primus Telecommunications, Nokia, Motorola, Lucent, Nortel, Ericsson, Idea Cellular and Bharti Cellular. Quasar has more than 800 man-years of experience in mobile and wireless design and telecommunications network provisioning and development, distributed among its 250 people.

The Company is situated in Bangalore, India's IT hub, and has grown at 300% year on year since its inception. Quasar also has liaison offices in North America and Europe to serve its international customers better. During its years in the wireless telecom area, QI has forged strong ties with market leaders such as Motorola, Ericsson and Texas Instruments.

To ratify the appointment of M/s. Firstcall India Equity Advisors Pvt Ltd as the financial and strategic advisors of the Company.

The Stock closed the day at Rs.678, down by Rs.1.80 or 0.26%. The stock hit an intraday high of Rs.699.95 and low of Rs.672. The total traded quantity was 3677 compared to 2 week average of 10250.

Source : Equity Bulls

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