On Wednesday, Oct. 17, Schneider Electric completed the acquisition of Pelco, giving the building automation and systems company a strong footing in video surveillance security systems. The acquisition saw all the Pelco shares purchased for $1.54 billion.
Early in the acquisition process, representatives from both Schneider and Pelco stressed that the companies aligned their businesses well, and that Pelco "will remain committed to the current business model without any disruption to Pelco's service," according to Pelco's CEO David McDonald.
Pelco will be operated out of Schneider's T.A.C. unit, a Swedish-based company that provides integrated security and building solutions.
More on SIW: See previous news article on Pelco acquisition