Hikvision Signs Memorandum of Understanding with Prama Technologies to Establish Joint Venture in India

Hikvision Digital Technology Co. Ltd., a supplier of digital video surveillance products, announced that it signed a memorandum of understanding (MOU) with Prama Technologies to establish a joint venture to further enhance penetration in the booming Indian security market. Prama Technologies has been Hikvision's authorized distributor of H.264 embedded DVRs, compression cards and other CCTV products in India since 2004. The joint venture, which is expected to become official in early November, will enable both companies to provide better customer service as they will be able to work with more local distributors. The distribution channel will also enable customers to purchase Hikvision products locally and get access to prompt technical support.

"This is Hikvision's first overseas joint venture. We are confident that Prama Technologies will fully live up to our high expectations when it comes to quality and reliability," said Andy Shen, Hikvision's India Regional Sales Manager. "The joint venture will definitely help us satisfy customer needs and further penetrate the security surveillance market."

Ashish Dhakan, President of Prama Technologies, said: "This cooperation enables us to sell and support Hikvision's high-quality products in India. We believe that this joint venture company will facilitate Hikvision and Prama to better serve current and future customers all across India — especially in terms of providing better local sales and technical support."

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