Pelco, with 2,200 employees worldwide, has been described by Schneider Electric as the “best possible” fit for their planned expansion into building automation and security.
David McDonald, President and CEO of Pelco, said:
“Schneider Electric is an ideal partner for Pelco. Both companies share the same commitment to people, innovation and customer service that will make our combined enterprise an even stronger, more competitive player in the industry.
“We look forward to the unique benefits this partnership will bring to our customers and employees.”
Pelco, who reported profits of $506 million in 2006, will now take leadership of Schneider’s Fire & Security Product Division. Schneider hopes that by combining the companies’ solutions and distribution channels they will generate an extra $67 million in revenue before interest and taxes in 2011.
Arne Frank, Executive Vice President of Schneider’s Building Automation business unit, said the move will create a unique portfolio of products in the building management industry.
“Pelco’s unique position in IP-based video security represents a tremendous additional organic growth opportunity. With this acquisition, a very important additional step is made to further reinforce our leadership in Open & Integrated solutions for Building IT.”
Schneider generated more than $13.7 billion in sales last year. Pelco staff now join a Schneider Electric workforce of 112,000 across 190 different countries.
Kevin Smith, Pelco’s Regional Manager for the UK and Ireland, was unable to say how the takeover is likely to affect the company’s British operations.
