India’s Zicom decided to sell 2 of its electronic security system business units. They have agreed to sell it to the Indian arm of Schneider Electric on the cost of 2.25 billion rupees.

Zicom said to BSE that they will sell its business catering to the govt. & institutional markets.

In such fields there are capital intensive projects with the longer gestation period, which wants high level of incorporated building management technology & require high investments by Zicom.

Chairman of Zicom, Manohar Sidaya said that because of high value it is better to quit the business & focus on building.

Zicom decides the premium as MRP for the deal, which is the value of the entire unit, as 1.43 billion.