Digital Broadband, Point Red Get $4.8M in Contracts

Digital Broadband Networks, Inc. (OTCC: DBBD) and PointRed Technologies, who have agreed to jointly market their products and services, announced they have acquired equipment and contracts worth $4.8 million.

Parts of the deal grants DBBD with an option to purchase up to 25 percent of PointRed’s equity. Further details were not disclosed and officials at either company were not immediately available for comment.

PointRed, based in Sunnyvale, Calif., is a developer of wireless broadband solutions. Charlotte-based DBBD operates through two subsidiaries — Animated Electronic Industries, a designer of multimedia content, among other functions, and Perwimas Telecommunications, a wireless broadband communications provider in Malaysia.

Digital Broadband Networks: www.dbni.net