Airbee Wireless to buy two U.S. firms

By agencies   |   Monday, 21 March 2005, 20:30 IST
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CHENNAI:Airbee Wireless Inc, a US-based developer of embedded wireless connectivity software will acquire two companies in the U.S. shortly. "We are looking at three acquisitions; we are sure two of them will happen in April," Raj Sunderasan, founder and CEO of the company said. The company with a market cap of $ 19 million has two development centers in Bangalore and Chennai. Airbee started selling its product sometime last year and before this, the company was engaged in developing software. Sunderasan said that the market for short-distance wireless home products is big now and each year 880 million devices that have wires for monitoring and control - such as air conditioners, light bulbs and security systems - are sold. "This is a huge target market," he said, adding that Airbee's software could be used to fit any device to replace wires.

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