Pelco, the Fresno-based surveillance technology manufacturer, was sold by its owners, French conglomerate Schneider Electric, to an El Segundo-based private equity firm on Monday.
Terms of the deal between Schneider and Transom Capital Group were not released.
Pelco was acquired by Schneider in August of 2007 for $1.5 billion.
Since then, industry insiders report that Schneider’s management of Pelco and continued investment in analog video surveillance allowed competitors producing internet camera system – such as those produced by Cannon-acquired Axis Communications – to grab control of the market.
“As most security industry experts know, Pelco is one of the pioneers of the video surveillance space,” Transom managing partner Russ Roenick said. “The journey toward creating the next great breakthroughs in video security begins today through our investment in Pelco.”
The security services firm was rumored to be on the block as early as the summer of 2018. Rumors of a sale reignited at the outset of April.