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Zicom set to acquire two companies
By siliconindia
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Monday, 14 July 2008, 23:57 IST
Mumbai: Zicom, a Mumbai based electronic security systems provider in the country, sets to acquire two companies for $50 million, a UK based technology developer, and the other in Chennai, which has a security system integration business and had recorded a turnover of Rs 75 crore in the last fiscal. The deal is to be set within another three months.
"The acquisition of the two companies will lead to a phenomenal surge in Zicom's turnover in the market from Rs 291 crore to anywhere between 
400 - 450 crores. "We are definitely looking for acquisitions, but the time is not ripe yet to speak on the matter," stated Pramoud Rao, Zicom's Managing Director, refusing to put further light on the subject.
However, as sources states, "Zicom, who has been in the business since 1995, is negotiating on the valuation as the management of the target company in UK is asking for $10-15 million more against Zicom's $25 million offer."
Zicom, is an electronic security systems provider in the country, with offices in over 30 cities and towns, employing over 400 people.
400 - 450 crores. "We are definitely looking for acquisitions, but the time is not ripe yet to speak on the matter," stated Pramoud Rao, Zicom's Managing Director, refusing to put further light on the subject.
However, as sources states, "Zicom, who has been in the business since 1995, is negotiating on the valuation as the management of the target company in UK is asking for $10-15 million more against Zicom's $25 million offer."
Zicom, is an electronic security systems provider in the country, with offices in over 30 cities and towns, employing over 400 people.
