Schneider Electric Sells Pelco to Transom Capital Group
Focus on open systems will continue - Jean-Marc Theolier, Pelco
SCHNEIDER Electric has sold its Pelco CCTV business to Transom Capital Group for undisclosed terms. The French electrical and automation manufacturer bought Pelco for $US1.54 billion in 2007.
“As most security industry experts know, Pelco is one of the pioneers of the video surveillance space,” said Russ Roenick, managing partner at Transom Capital Group. “The journey toward creating the next great breakthroughs in video security begins today through our investment in Pelco.
“We have conviction that the work done over the past several years to transform the company into a digitally-savvy security leader with innovative hardware, software, and service solutions is nearly complete. We are excited to partner with management to grow the business for many years to come.”
Pelco has worked hard on developing IP enterprise solutions and the open systems focus will continue under Transom’s ownership, according to Pelco CEO, Jean-Marc Theolier.
“As we surveyed the landscape of potential partners, our primary goal was to commit with a company who appreciated Pelco’s legacy, as well as supported our current business strategy and growth plan,” Theolier said. “Transom strongly believes in our unique value proposition to be an end-to-end solutions provider … and to develop new and innovative solutions to best serve our business partners.”