Schneider Electric, French integrated building management system provider, has bought 48 per cent of

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India’s leading security company, Zicom Electronic Systems for Rs 225 crore.

The acquisition includes Building Solutions Group and Special Projects Group, which largely deal with commercial and government projects for industrial complexes, city surveillance and railways.

Following this deal, Schneider would take over around Rs 80 crore of existing projects and forthcoming projects.

Zicom has worked on around 1000 government city surveillance, railways, airports and big industrial projects till now. After the 26/11 terror incident in Mumbai the company has won fresh orders for Common Wealth Games in Delhi and city surveillance orders from some states.

“We have recently bagged from Jaipur in Rajasthan and Bharuch in Gujarat for city surveillance, and have been assigned the task of monitoring some of the stadiums at the commonwealth games in Delhi,” Pramod Rao, managing director of Zicom told reporters in Mumbai.

Schneider expects to encash the deep market knowledge and execution capabilities of Zicom to attain leadership in India for fully integrated building management systems.

“We are looking for organic growth in India and investments for right business would never be an issue. “In the last one year we have acquired three businesses and our employee strength has grown from 5000 to 8000 in India,” Oliver Blum, country president, Schneider Electric said.

The transaction is expected to be over in April 2010 following shareholders approval.

Zicom shares rose around 14 per cent to Rs 127.80 on Thursday.