Diversified industrial products and services firm Ingersoll-Rand Company Limited (IR) has made a swift acquisition in the security systems integration market, the company announced late Thursday. IR has agreed to purchase 80 percent of Chinese systems integration firm Bocom System Engineering Co. Ltd. for an undisclosed amount.
Bocom, based in Shenzen, is considered the largest China-based security systems integrator, and has been noted for numerous large-scale municipal, airport and government contracts, including video surveillance systems and other engineering and electronic systems integration projects. In addition to its home offices in Shenzen, Bocom has offices in Beijing and Shanghai.
"Bocom System continues the development of Ingersoll Rand's global security-systems portfolio, providing technologies, expertise, and related integration services while expanding our capabilities in a large and growing market," said Herbert L. Henkel, chairman, president and chief executive officer of Ingersoll Rand in a statement announcing the purchase agreement. "In addition, Bocom represents an excellent fit with Ingersoll Rand's existing security solutions, and expands our global footprint to serve strategic global customers in the People's Republic of China."
Bocom will be operated as part of IR's Integrated Systems Solutions business. IR Security and Safety is online at www.irsecurityandsafety.com.
The majority stake purchase agreement is expected to close soon.