Cemtrex on Monday announced that it has entered into an agreement to acquire ownership of approximately 46 percent of the outstanding common stock of New York-based video surveillance solutions manufacturer Vicon Industries.
In a statement, Cemtrex CEO and Chairman Saagar Govil said the move represented a "strategic investment" by the company to expand their operations into long-term growth markets.
“Vicon is a strong brand in the security and surveillance market, with a great new product, Valerus, in an expanding market that is ripe for continued innovation. We are looking forward to leading Vicon to long term success,” added Govil.
Cemtrex provides manufacturing services of advanced custom engineered electronics, industrial services, integrated hardware and software solutions, virtual and augmented reality applications, monitoring instruments for industrial processes and environmental compliance, and systems for controlling particulates and other regulated pollutants. The company also develops its own proprietary Internet of Things (IoT) and wearable devices.
