VISONIC SET TO EXPAND HORIZONS VIA ISRAELI IPO
Visonic Inc., a global manufacturer of hardwired and wireless sensors, control transmitters, systems and access control products, announces it has recently received the “green light” from the Israeli Security Commission for its initial public offering (IPO). This major development for the company comes after a restructuring process was instituted designed to meet the growing needs of Visonic Group’s customers. The capital restructuring will enable Visonic to maximize its market opportunities for strategic alliances, ventures and acquisitions in security and other emerging markets.
According to Mark Freundlich, president of Visonic, the company is specifically looking to: 1) fund plant expansion in Tel Aviv; 2) fund acquisitions of new companies; and, 3) get into new emerging markets, particularly in the residential sector. “We have changed from being a security business to being in the business of security,” adds Freundlich.
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