Gemini targets acquisition in security space

The company is eyeing markets especially in Europe

The Chennai-based company is also eyeing acquisitions in the Radio Frequency Identification (RFID) and Wi-max segments, especially in Europe, and hopes to complete at least a couple of acquisitions this fiscal, he said.

"We are in the final stages of negotiations to acquire a domestic company in the security storage segment. We hope to complete the deal in a month or so," Gemini Communications Chairman and Managing Director Vijay Kumar told PTI .

The deal size is estimated at around $5 million. The acquisition will help us shore up our marketshare in the security storage space. We will catapult into the top three in the segment," Kumar said.

The existing management of the acquired company would be retained, he said.

Gemini is also eyeing acquisitions in Wi-max and RFID segments, especially in Europe. "The acquisitions here will be done by our subsidiaries," Kumar said.