Schneider Electric India purchases Zicom's special projets group segment
Schneider Electric India, the Inidan arm of French energy major Schneider Electric, a global specialist in energy management has acquired Zicom Electronic Security's Building Solutions Group (BSG) and Special Projects Group (SPG) segments for Rs 225 crore.
Zicom will, as part of the transaction, transfer 185 employees and andan order book of Rs 80 croe to Schneider India
Commenting on the sale, Pramod V Rao, MD of Zicom Electronic Security Systems, said that 48% of the company’s topline was sold to Schneider, adding that the proceeds from the sale would be used to diversify into high growth areas and to retire some of Zimcom’s debts.
Rao further said that margins in the retail business was low at present owing to high marketing costs.