Cemtrex to Acquire Complete Ownership of Vicon Industries

Cemtrex Inc., a Brooklyn-based advanced security technology company, is set to acquire 100% ownership of Vicon Industries, a prominent New York-based provider of security and surveillance systems. This acquisition will increase Cemtrex's stake from roughly 93% to complete ownership. Vicon, established in 1967, is renowned for its sophisticated security solutions that emphasize simplicity in execution and customer service. The video surveillance sector in which Vicon operates is projected to grow significantly from $54.42 billion in 2024 to $88.71 billion by 2030, propelled by technological advancements in AI and heightened demand for security solutions across various sectors. Cemtrex's ownership of Vicon aligns with the company's strategy to enhance its influence and capabilities within the security technology market. Additionally, Cemtrex operates Advanced Industrial Services, a firm specializing in industrial contracting services. The acquisition reflects Cemtrex's commitment to bolstering its operational base and addressing the evolving needs of global security landscapes.