NEW YORK (PRWEB) September 4, 2008
Under the terms of the agreement, 4C Controls will acquire 80% of Zahra in return for an undisclosed combination of cash and securities of 4C Controls. The founders and senior management of Zahra will retain 20% ownership of Zahra. The parties anticipate signing a supplemental agreement regarding definitive details applicable to the transaction and closing the acquisition prior to the end of the third quarter 2008. The acquisition of Zahra is the first of further strategic acquisitions which 4C plans as part of its growth strategy and business model.
4C Controls intends to utilize Zahra to facilitate growth in international sales and operations. In 2007, Zahra had gross revenues of approximately US $ 11.8 million and expects to close 2008 with revenues of approximately US $ 25 million. Zahra currently has 105 employees of whom 37 are engineers, 44 are technicians and 24 are office staff. 4C Controls anticipates that substantially all will continue working for the company after the closing of the acquisition.
Since Zahra’s inception in 1983, the company has been a leading provider of high technology products, services and solutions for the security and communication industry in Dubai, Abu Dhabi and throughout the United Arab Emirates. Zahra is a manufacturer, trader & exporter of Access Control Systems, Building Management Systems, Intercom, Video Conferencing, CCTV Surveillance System, Communication Solutions- Telex, Copyette EH, EDAT/ZIN-Digital Conversion Cards, CDP 2001, XGEN, Narrator/Tutor and Replica. It is also a Card Solution supplier, integrator and provider.
Zhara’s integrated security, surveillance and access controls clients include the highest levels of governmental organizations, such as Crown Prince Management (Abu Dhabi), Central Military Academy (Dubai), Abu Dhabi Defense, General Postal Authority, Ministry of Labor Office and Social Affairs, Dubai Airport Facility, Dubai Broadcasting Corporation. Zahra’s current portfolio of products and services is extensive, and Zahra foresees to further grow by continuing to align itself with the latest innovations in the field, and capitalizing on its track record with the many prestigious and noteworthy clients that Zahra has served, including the following
U.A.E. Central Bank, Barclays Bank, Citibank ABN Amro Bank, Abu Dhabi Investment Authority Dubai Marina, Jumeirah Beach Hotel, Zayed University Cisco Systems, Philips Middle East, Pfizer Intl. Corp. Toyo Kanetsu, Nestle, ABB, CCC, Pepsi-Cola International Reuters,
