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Home » Mergers & Acquisitions » Consumer Goods » Zicom Sells Two Business Segments To Schneider Electric |
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Zicom Sells Two Business Segments To Schneider Electric
by Jarna Gandhi | March 05,2010 - 06:00 PM
Topics : Mergers & Acquisitions
Industries : Consumer Goods
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Schneider Electric India Pvt Ltd has acquired the institutional and Goverment business segments (including Debt) of Zicom Electronic Security Systems Ltd for upto Rs 224.75cr. The 2 segments are run under the brand Building Solutions Group and Special Project Group.
Schneider would take over around Rs 80cr of existing projects and forthcoming projects. The transaction is expected to be over in April 2010 following shareholders approval.
The sale is a part of the company's plan to focus on retail segment and its Middle East operations. The transaction would also make Zicom debt free with some cash in hand to foray into new businesses like alternative energy and aerospace engineering. As on 31 March 2009, the company had a debt of Rs 79.65cr Prime Securities Ltd was the advisor to Zicom in the transaction. The company will retain its retail security and fire protection businesses, which together contributed 52% of the group’s revenue of Rs375cr for the nine months ended 31 December. Transaction Reference: Hindu
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Transaction Note Zicom, incorporated in 1994, offers products like access control systems, closed circuit television surveillance, fire alarm systems, smart cards, biometrics, remote video surveillance, perimeter protection system, and law enforcement products.
Zicom has worked on around 1000 government city surveillance, railways, airports and big industrial projects till now.
The company will retain Zicom Retail Pvt. Ltd., which provides services to small and medium-sized companies and the home segment, and Unisafe Fire Protection Services LLC, Dubai.
The deal was at a premium to the market price, which values the entire company at Rs143 cr, based on Thursday’s close. At current prices, Zicom has a market capitalisation of Rs 167cr.
Schneider Electric is a wholly owned subsidiary of French firm Schneider Electric Industries SAS. The company is engaged in energy management systems. Last month, it launched 'In-Diya', an energy-efficient LED based Lighting System, to provide lighting to people living with no or unreliable electricity in India.
The Zicom acquisition is the 3rd one for the company in India in last 10 months. It acquired two Bangalore-based firms, Meher Capacitors and Conzerv Systems in 2009 |
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| Date | Type | Sub Type | Buyer | Size |
| Zicom Business Segments-Schneider Electric |
| 05/03/10 |
M&A |
Acquisition |
Schneider Electric India Private Limited |
49.30 |
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| Company |
| Name | Promoters | Office | Competitor | Website |
| Zicom Electronic Security Systems Limited |
Coronet Properties & Investments Private Limited
Progressive Equifin Private Limited
Manohar Gopal Bhindey
Baronet Properties & Investments Private Limited
Pramoud Vinayak Rao |
"Land Mark",a-Wing,6th Floor,
Off Western Westen Highway,
Andheri Kurla Rd,An,
Mumbai-400093 |
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www.zicom.com |
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| Schneider Electric India Private Limited |
Schneider Electric Industries SAS |
A-29, Mohan Cooperative Industrial Estate
Mathura Road
New Delhi
110044 |
Siemens Building Technologies Private Limited |
www.schneider-electric.co.in |
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Prime Securities Limited(IB) |
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Schneider Electric India | Zicom Electronic Security Systems
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| Latest DealCurry Notes |
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Symphony Service Acquires US Based CoreObjects Software
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September 09, 2010, 04:05 PM | Deeshesh Chheda
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Bangalore-based Symphony Service Corporation has acquired CoreObjects Software Inc, a Los Angeles-based new product development services provider, that specialises in bringing commercially deployable products to market.
With CoreObjects’ engineering delivery centers in Bangalore and Pune, India and its team of highly skilled full-time product engineers and deep vertical market expertise, Symphony Services will expand its offerings in the product development and embedded product development space.
This acquisition also provides Symphony Services access to additional re-usable components and frameworks for product development, including CoreObjects' Smart Objects suite of software assets designed to speed clients' products to market.
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| M&A |
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| PRIVATE EQUITY |
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| VENTURE CAPITAL |
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| I.P.O. / OFFERINGS |
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