Pelco announced today that it is exiting the electronic access control business. The company said that the current economic climate affected its decision.
The news means the shuttering or divestiture of the Intelli-M access control system and the entirety of Pelcoâ€™s electronic access business. While the company has made no decisions as to whether the Intelli-M EAC business will be sold or spun off, the company is closing the company facility in Indianapolis, where the technology development and product support employees for electronic access control are based.
â€œAs we have indicated on numerous occasions, we are forced to monitor the market and be prepared to make difficult decisions swiftly in response to whatever challenges we are presented,â€ said Pelco President and CEO Dean Meyer of the closure. â€œThis is another such decision but one that is necessary for us to maintain focus on efforts that are expected to best help Pelco weather the storm.â€
The company has already informed the affected employees and will be providing severance to the laid off employees.
Although Pelco did not announce details for product support, warranty and repairs for existing customers of the Intelli-M access control systems, it did say that it would provide that information to those customers within the next month.