FREMONG, Calif.-Wireless solutions provider Pegasus Wireless Corp. announced it has acquired a 51 percent controlling interest in CNet Technology Inc., a Chinese designer and manufacturer of computer network equipment, including wireless devices.
The stock-based transaction is worth around $1 million.
Pegasus said it expects to manufacture its wireless products at CNet’s manufacturing site. The company said the acquisition of a centralized manufacturing facility will increase both the speed and volume of its product output. Previously, Pegasus manufactured its wireless products through various venues around the world.