Everstone Capital PE-funded firm Ozone Enterprise Group today said it has acquired security and surveillance firm Wallcam for an undisclosed amount.
"We have acquired Wallcam from V'con Intelligent Security. It is complimentary to our existing business. We plan to invest Rs 100 crore in this business over a period of next 2.5 years," Alok Aggarwal, the founder and Managing Director of Ozone Enterprise Group told PTI.
Aggarwal said that around 60-70 employees of V'Con working on the security and surveillance business will also join the company.
Videocon Telecom in partnership with V'Con was selling Wallcam products for sometime.
Ozone at present provides safety solutions that include architectural hardware, safes and vaults, locks, fire and safety doors and urban furniture.
"We expect to break even in this business in next 3-4 years," Aggarwal said.
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