Hikvision Acquires Alarm Manufacturer, Pyronix
Hikvision has acquired UK intrusion detection manufacturer Pyronix. The company manufactures products for residential and commercial security applications and employs 200 people at 4 sites.
“The foreign direct investment that this will bring to the UK will be huge,” said Julie Kenny CBE DL, founder of Pyronix. “Hikvision has big plans for growth of Pyronix and the continued development globally. In the last 15 years, Hikvision has demonstrated what can be achieved in the video surveillance market. With this guidance, Pyronix can achieve great things in the global market place.”
“Hikvision and Pyronix combined know-how will bring new advancements and innovative products to the market,” said Pyronix CEO Sebastian Herrera, “Converging 2 security technologies in video surveillance and intrusion detection.”
The acquisition is a new direction for Hikvision, which has hitherto expanded its market share organically through distribution networks. Snaring an alarm manufacturer is also noteworthy and suggests the company is eye growth outside the CCTV and intercoms markets in which it is strong. ♦