PRLog (Press Release) - Sep. 14, 2013 - MUMBAI, India -- Solus Security Systems Pvt Ltd, an Indian Manufacturer of Access Control Systems, has decided to preside over a Merger bid with Incept, a leading Biometric brand. As part of the process, a merger has been finalized under undisclosed terms of agreements. Since the stocks of Incept will now be taken over by Solus Security along with the team and the set of customers, this process is an acquisition of this well known brand of biometrics.
Incept has over 1800 customers spread across the globe, with presence in more than 130+ locations of India. It also runs a Training Academy, branded as ITA (stands for Incept Training Academy) which focuses on training small entrepreneurs and students on topics like biometrics. With its merger, the expectation is that a stronger service team will emerge in Solus Security.
As per an official statement released jointly by Solus and Incept, this move is designed to benefit the customers of both Solus as well as Incept, by providing a stronger business model. It remains to be seen whether the new management created by the new entity, will promote bodies like Incept Training Academy. Hariom Sharma, the current Managing Director of Solus Security, will preside over the new entity. While Ashwin Srivastava, the founder of Incept, has decided not to join the new entity but support it as an external consultant.
Ashwin Srivastava was quoted as saying, "This merge is good for all in the business. Incept has built itself strongly and reached operational break-even at a record rate, and we have built a team which gives 100% customer satisfaction. Rest remains on the new management on how it utilizes the milestones created." Hariom Sharma, a popular business leader who has been a mentor for entrepreneurs from Mumbai agrees to Ashwin's statement, and adds, "The merge has taken place considering the current market scenario."
It remains to be seen how the merge will impact this industry.