Panasonic Corp. on May 11 announced that it will acquire a majority stake in the Indian security products firm Firepro Systems Private Ltd.
Panasonic said it will acquire 76.2 percent of Firepro's ordinary shares owned by existing shareholders.
It said it hopes to gain further growth by capital participation in Firepro to expand into “non-residential” areas including offices, buildings and commercial facilities.
Firepro currently has a strong network with customers such as major IT corporations and local developers and high engineering capabilities in the Indian market.
Panasonic said it is pursuing three aims, including entry into new fields such as energy; from Japan oriented to globally oriented; and from individual product-oriented to solutions- and systems-oriented.
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