Tyco has announced it has completed the acquisition of Visonic, a global developer and manufacturer of electronic security systems and components, for approximately $100 million in cash. The acquisition was first announced on 15 September, 2011.
In a letter to customers, David Grinstead, VP of global sales for Tyco Security Products, noted that Visonic is a 38-year-old global developer of wireless security, safety, home control and healthcare solutions. The acquisition adds about 500 employees globally to Tyco as well as a manufacturing and design centre.
The purchase will expand Tyco’s intrusion capabilities as well as strengthen its hand in the wireless market, which is expected to show good growth in the coming years. Visonic’s portfolio includes wireless communications technologies that offer increased range and secure communications. These technologies are in use in more than 1 million wireless installations around the world.
“The addition of Visonic to the Tyco Security Products portfolio advances our strategy to provide our global customer base with broad-based, best in class security solutions,” said Mark VanDover, president of Tyco Security Products. “The company’s technological capabilities and strong presence in markets such as Europe enable us to further enhance the solutions and reach of our intrusion security portfolio.”
For more information contact Tyco Security Products, +27 (0)82 566 5274, [email protected], www.tycoacvs.com
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