Boston, MA, U.S.A. --- (METERING.COM) --- January 29, 2008 – Zoom Technologies, Inc. a producer of modems, wireless products, and other communication products, has made an initial investment in RedMoon Inc., a provider of wireless mesh networks for a wide range of applications including automatic meter reading, security surveillance, and high-speed Internet service.
Founded in 2000 and headquartered in Plano, Texas, RedMoon has wireless networks installed in a number of Texas cities and planned installations in other parts of Texas and the US, as well as in Latin America. RedMoon holds a contract with the State of Texas, Department of Information Resources to provide wireless mesh network solutions. The contract allows state, county, and city entities throughout Texas and certain other states to purchase telecommunications products from RedMoon, eliminating the competitive bid process.
Zoom has also entered into an option agreement with RedMoon which provides Zoom with the option to purchase 100% of RedMoon, and is entitled to designate a representative to the Board of Directors of RedMoon. This representative will initially be Frank Manning.
“We are impressed by RedMoon’s President and CEO, Bryan Thompson, and the strong team he’s built,” said Manning, Zoom’s President and CEO. “RedMoon has a proven track record of installing high-performance wireless networks, and has strong links to Texas communities, powerful business partners, and suppliers. We are particularly excited about RedMoon’s prospects in the wireless meter reading and public safety areas. We believe that Zoom’s investment and experience will help accelerate RedMoon’s growth, potentially making RedMoon an attractive acquisition for Zoom. If successful, the RedMoon investment will result in Zoom becoming a significant provider of wireless mesh networks. This investment also helps Zoom’s development of new wireless hardware products by giving Zoom better insight into the needs of wireless network providers.”
“We continue to see growth in the wireless broadband industry, especially in public safety, surveillance and automatic meter reading,” said Bryan Thompson. “We are excited about our relationship with Zoom Technologies, and we look forward to the significant business opportunities in front of us.”