SecurityWorldMarket

03/11/2019

Teletek & Comelit in merger agreement

Sofia, Bulgaria and San Lorenzo, Italy

Valentin Stoitzev, Chairman of the Board, Teletek and Comelit Group's CEO. Edward Barzasi.

A significant partnership agreement has recently been entered into between the Italian Comelit Group—which operates worldwide in the design and manufacture of video door entry, home automation, video surveillance and access control systems—and the Bulgarian Teletek Electronics company specialising in the development and manufacture of fire detection and anti-intrusion systems.

This agreement comes after a long and fruitful period of collaboration that saw Teletek Electronics develop a complete range of fire detection products and equipment for Comelit. Reciprocal satisfaction and trust from the bases for entering into a new partnership that will see the two companies grow synergistically whilst maintaining their individuality at a strategic, organisational, productive and sales level.

Comelit Group’s CEO, Edward Barzasi, explained in detail the decision to gain a strategic capital shareholding in Teletek Electronics, aimed at maximising the synergies between the two companies, resulting in tangible advantages also in favour of their clientèle.

“This shareholding in the Comelit Group sees us enter the ranks amongst the top technological players in the international market for professional fire alarm and anti-intrusion systems. In fact, in addition to our own know-how, we can now count on Teletek Electronics’ skills, having worked in this specific market for almost 30 years,” says Barzasi. “One benefit of this operation will be Comelit’s quality, with the introduction of innovative solutions that will complement the broad and structured range of anti-intrusion, access control and video surveillance systems already offered. The package of over 2,500 products is flanked by excellent after-sale support services, being the hallmark of our company. For our customers, there is then the certainty of interfacing with a single partner throughout all phases of the purchasing process.”

There is also great satisfaction for Teletek Electronics which—through its founder Valentin Stoitzev, as Chairman of the Board—has announced that the new partnership is perfectly in line with the corporate mission of brand development and market expansion. “This agreement enables Teletek Electronics to increase its investments on several fronts: the internal organisation and strengthening of the sales network in terms of R&D, accelerating the development of new products that will be offered to the market under the Teletek brand.”

Precisely as a function of the significant growth plan for Teletek, also supported by the Comelit Group’s resources, a huge investment has already been planned for the construction of new premises, with an increase in the spaces and doubling of the production capacity in respect of the current situation, to better serve the 75 markets worldwide.

In addition to the synergistic growth, Barzasi and Stoitzev reaffirm the shared intention not to alter the individuality of the two companies, which will maintain their respective brands and commercial structures.


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