Schneider Electric buys two segments of Zicom

Schneider Electric India has acquired the institutional and government business segments of Zicom Electronic Security Systems for Rs 224.75 crore. The two segments are opereated under the brand Building Solutions Group and Special Project Group. Schneider will take over around Rs 80 crore of existing projects and forthcoming projects. The transaction would make Zicom debt free with some cash in hand to foray into new businesses like alternative energy and aerospace engineering.