Comments
Tenon Group, an integrated facility management and security business conglomerate, is keen on acquisitions in Asia, especially India, and the UK, Group Chairman Manjit Rajain said.
The company, listed on the London Stock Exchange through its parent Mortice Ltd, is also planning an initial public offering (IPO) in India.
“We are in the acquisition mode as there is only so much that you can grow organically. Hopefully, in the next six-eight months, we will complete one and become the market leader in the facility management space,” Rajain said.
He, however, declined to disclose the company he is in talks with for acquisition. The group has four verticals — Tenon Property Services, an integrated solution for superior quality facilities services, the security arm Peregrine Guarding, Rotopower Projects which provides electro-mechanical and maintenance engineering services and Soteria Command Centre.
While the security vertical is its largest and fastest growing one, Soteria is working with individuals, banks, fuel companies for monitoring their CCTV surveillance.
“Soteria is in partnership with IBM. While we have many surveillance cameras everywhere, the question is who monitors them. Currently, the feed is used for post event investigation only. The Soteria Command Center is a business tool that predicts, manages, analyses and communicates the environmental deviations for certain events,” Rajain said.
Under the Soteria Command Center, the company is conducting a pilot project with 250 ATMs in the country across three banks wherein it provides a unique real-time remote monitoring, which utilises predictive event analytics and proactive response management that help alleviate business risks.
The service assists clients in pre-empting any critical or non-critical challenging security-related incidents.
The company, under Soteria, will primarily work with individual security, banks, fuel companies, he added.
While it has a pan-India presence with over 42,000 employees in 67 branches, it is also present in Sri Lanka through Tenon Lanka, and in Saudi Arabia through a joint venture, Saudi Tenon.
It has also made a foray in the Netherlands through Amsterdam Arena International.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.