49% Stakes for Zicom in Qatar's Phoenix International

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

 

Zicom Electronic Security Systems Limited along with its Singapore based wholly owned subsidiary viz. Unisafe Fire Protection Specialists Singapore Pte. Ltd. has acquired 49% stake in fire security solutions provider Phoenix International WLL for $15 million.  Phoenix International is one of the leading fire security solutions providers in Qatar. Phoenix International offers turn keys solutions in fire protection and suppression projects and petrochemical sector. 

According a filing in the Bombay Stock Exchange, Zicom has acquired 5% stake while Unisafe Singapore has acquired 44% stake in Phoenix International. 

This will be help security solutions firm expanding footprint in GCC countries. "With acquisition of Phoenix International in Qatar, Zicom has expanded its footprints in GCC Countries and has become a major player in providing Fire Prevention and Protection products and services in Middle East region. This acquisition is in line with our strategy to offer our services in Middle East and North Africa (MENA) Region," said Manohar Bidaye, chairman of Zicom Electronic Security Systems Ltd.

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