Hikvision signs Memorandum of Understanding with Prama Technologies to establish joint venture in India

Hikvision and Prama Technology combine forces to supply digital video surveillance in India

Hikvision Digital Technology Co. Ltd., the leading supplier of digital video surveillance products with the headquarters in China, today announced that it has signed joint venture MOU (memorandum of understanding) with Prama Technologies to establish a joint venture in order to further enhance the 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.

Following this memorandum, Hikvision Digital Technology and Prama Technologies will sign joint venture agreement, and the joint venture will be officially effective at the beginning of November after legally procedures.  As a professional manufacturer, the joint venture will be determined to provide better service to customers by collaborating with more local distributors.  This distribution channels will enable the customers to purchase Hikvision's products locally, and to get access to technical support promptly.

"This is Hikvision's first overseas joint venture.  We are confident that Prama Technologies fully lives up to our high requirements on quality and reliability," said Andy Shen, Hikvision's India regional sales manager.  "The joint venture will definitely help us satisfy the customers' needs and further penetrate into security surveillance market."

Ashish Dhakan, president of Prama Technologies, said: "Through this cooperation, we are committed to solely sell and support Hikvision's high quality and reliable products in India.  We believe this joint venture company will facilitate Hikvision and Prama to well serve the current and future customers all across India especially in providing better local sales and technical support."

"Not only will this joint venture help us better serve our customers and expand the business in India, it will also benefit us to consolidate our leading position in CCTV security sector in this booming market,"  said Yangzhong Hu, President of Hikvison.