Hikvision, a leading Chinese video surveillance manufacturer, has bought a British intrusion alarm manufacturer, it was reported Friday.
Bosses at Pyronix, based in the Yorkshire town of Rotherham, say the Chinese investment will bring huge investment to Britain.
No figure was given for the deal, but in an official statement on its website Pyronix confirms its acquisition by Hikvision.
Pyronix, which employs around 200 staff at its sites in Rotherham and Berkshire in southern England, exports its products to more than 70 countries.
Julie Kenny, founder of Pyronix, said: "This acquisition represents a huge opportunity for Pyronix, Rotherham, and the region. The foreign direct investment that this will bring to the UK will be huge. Hikvision has big plans for the growth of Pyronix and the continued development globally."
Jiangfeng Zhi, recently appointed chairman of Pyronix, said: "These are exciting times for Pyronix and Hikvision as the two companies work together. Hikvision has plans for significant investment in the UK and particularly in its UK-based manufacturing, with plans to dramatically expand operations."
"We are delighted to welcome Pyronix to Hikvision group, and we look forward to growing the business through introduction of intruder alarm products to the global market," he added.
Sebastian Herrera, Pyronix's CEO, said: "Hikvision and Pyronix combined know-how will bring new advancements and innovative products to the market, converging two security technologies in video surveillance and intrusion detection."
