business news Axis named as Great Place to Work Chelmsford, Ma (USA) Business PeoPle Axis Communications, the global leader in network video, was named by Great Place to work as one of the 50 best small and medium workplaces in the United States on their annual 2015 Best Small & Medium workplaces list, just published in Fortune magazine. Ranked #17, this is the second consecutive year Axis has received this honour. Divided into two categories, Small (25–250 employees) and Medium (251–999 employees), the list has recognised companies with exceptional workplace cultures for more than a decade. Competing against hundreds of companies across the country, Axis participated in a rigorous selection process, which included an employee survey and an in-depth questionnaire about benefits programmes and company practices. Great Place to Work evaluates each application using its unique methodology based on five dimensions of a great workplace: credibility, respect, fairness, pride and camaraderie. As part of the review process, Axis is also “Great Rated” by the Great Place to Work Institute. According to an employee survey conducted in 2015, 94 percent of employees say their workplace is great, while 99 percent take great pride in working at Axis. “Our success as a company is a direct result of our core values and the employees who embrace them,” said Fredrik Nilsson, general manager, Axis Communications, Inc. “Recognition as a Great Place to Work for the second year in a row speaks to the efforts we make throughout all levels of the organisation to maintain our culture of innovation, collaboration and entrepreneurism even as we grow. Having a workforce strongly invested in our brand beliefs positively influences how our partners and end customers perceive and interact with us, strengthening our position as leaders in our industry and as a business.” sharad shekhar, new Ceo at Pelco. Pelco appoints new Ceo Clovis, Ca (USA) Pelco by Schneider Electric has appointed Sharad Shekhar as CEO. Based at Pelco Headquarters in Clovis, California, Shekhar is responsible for the entire global video business. “He has a proven track record of increasing revenue growth and an absolute adaptability to thrive in highly competitive markets. He will lead our Pelco video business at a time where we are bringing to market very exciting products, including our Optera multi-sensor cameras and Videoxpert, our brandnew video management platform,” explains Laurent Bataille, Executive Vice President, Ecobuilding Division – Schneider Electric. Having had extensive general management experience with his prior positions at Cummins, where he spent 15 years, Shekhar most recently was in charge of the $1.7B North American Exhaust Aftertreatment Business. Prior to this, Shekhar was the General Manager for Cummins’ Global Light Commercial Vehicle Business based in China. Assa Abloy acquires Nergeco in France Stockholm, Sweden Assa Abloy, through its subsidiary, Assa Abloy Entrance Systems France SAS, has completed an off market acquisition of 614,408 shares of the French company Nergeco SA from Croissance Nergeco SA and certain minority shareholders. Nergeco SA is one of the leading high-performance door companies in France. The acquired shares represent 87.77% of the share capital and voting rights of Nergeco SA and were purchased for a total purchase price amount of 23,184,661.30 euros, which results in a purchase price per share of 37,7350 euros. The per share purchase price is subject to adjustment on the basis of the net debt of the company pursuant to the terms of the share purchase agreement entered into between Assa Abloy Entrance Systems France SAS and Croissance Nergeco SA on 16 October 2015. Pursuant to the acquisition of the 87.77% majority block of shares of Nergeco SA and according to applicable regulations, a simplified tender offer will be filed with the French Financial Market Authority (AMF) shortly thereafter by Banque Neuflize OBC on behalf of Assa Abloy Entrance Systems France SAS for a purchase price per share still to be determined in accordance with the share purchase price Adjustment. The envisaged offer is conditional upon the authorization by the AMF. “I am very pleased that Nergeco is joining the Assa Abloy Group. I welcome this addition that further reinforces the Assa Abloy Group´s leadership in entrance automation, growing from SEK 3 billion in 2008 to more than SEK 15 billion proforma in 2014”, says Johan Molin, President and CEO of Assa Abloy. “Nergeco’s market position, competence and product offering is a strong addition to our current portfolio of high-performance doors, and an important step for us in the French market”, says Juan Vargues, Executive Vice Presi- Johan Molin, President and CEO of Assa Abloy. dent of Assa Abloy and Head of Division Entrance Systems. Nergeco’s sales for 2015 are expected to reach EUR 35 million (approx. SEK 325 million) with a good EBIT margin. The acquisition will be accretive to EPS from start. Nergeco was established in 1981 and has some 150 employees. The head office and factories are located in Dunières, France. The Global Security News Portal www.securityworldhotel.com Security News Every Day – www. securityworldhotel.com