Panasonic Corporation said on Friday that its subsidiary, Anchor Electricals, will purchase security equipment-maker Firepro Systems, for an undisclosed sum, a move which will help the Japanese company sell security equipment, apart from lights and switches. The Japanese company will acquire a portion of Firepro’s shares from its investors to raise Panasonic’s share to 76.2%.
“Panasonic aims at veering into both housing and non-housing markets; and offering total solutions by adding Panasonic’s and Anchor’s product lineup to Firepro’s installation services for clients in the high-growth non-housing market like buildings and commercial facilities,” said the statement. With the acquisition, Panasonic is looking to utilise Firepro’s marketing capabilities to strengthen Anchor’s presence in non-housing fields.
