Briefs: Pegasus buys China wireless manufacturer

Dec 29, 2005

Pegasus Wireless took another step in its globalization plan Friday by taking controlling interest in Chinese wireless manufacturer CNet Technology.

The $1 million deal gave California-based Pegasus a 51-percent share of CNet, giving Pegasus a manufacturing presence in the booming Chinese wireless market.

Pegasus will now be able to base its wireless-device production closer to the market and consolidate operations currently scattered around the world. The deal comes on the heels of Pegasus acquisition of Amax Technology and its U.S. distribution network.

Pegasus CEO Jasper Knabb said the purchase moves his company closer to its goal of becoming an end-to-end provider of communication networks solutions and technology.

Copyright 2005 by United Press International

Explore further: Volvo Cars design team offers concept in rearward baby seating

Related Stories

Recommended for you

Solar Impulse 2 pilot becomes aviation legend

Jul 04, 2015

At 62 years of age, Swiss Solar Impulse 2 pilot Andre Borschberg has made aviation history with a record breaking solo flight across the Pacific that he has called "an interior journey".

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.