Honeywell to acquire Ultrak CCTV business

October 2002 News

Ultrak and Honeywell Automation and Control Solutions (ACS) recently announced that Honeywell ACS has agreed to purchase Ultrak's closed-circuit television (CCTV) business. The transaction is subject to Ultrak shareholder approval and is expected to close in approximately two to three months.

The sale includes assets and certain liabilities related to Ultrak's CCTV business in the United States, Germany, Italy, Poland, South Africa, Australia, Singapore and the United Kingdom. In addition, Honeywell has agreed to license the Ultrak name.

From a South African perspective both Steve Shannon, country manager for Honeywell Southern Africa and Jacques Bester, MD of Ultrak SA are positive about the move. "Both our organisations view this development as synergistic in that it will combine the strengths of both companies to bring real benefits to the sub-Saharan client base," says Shannon.

"Expanding our capabilities in the CCTV market is the logical next step in the evolution of our integrated safety and security solutions for the residential, commercial, industrial and government markets," said Kevin Gilligan, president and CEO of Honeywell Automation and Control Solutions. "The acquisition of Ultrak's CCTV business will complement our industry-leading security offering of access controls and sensors, and provide us with stronger capabilities to grow in the expanding CCTV market."

According to Niklaus F. Zenger, chairman and CEO of Ultrak, the transaction will allow Ultrak to focus on its new strategy and will enormously strengthen the financial base of the company. Ultrak will retain its access control business, consumer/do-it-yourself business, industrial video-product business, mobile video-product business and alarm-management business.

For more information contact Steve Shannon, Honeywell, 011 805 1201 or Jacques Bester, Ultrak, 011 608 2251.





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