Tyco International to Buy Signature Security for AUD $171 million
Tyco International Ltd., a Bermuda-based diversified company that provides security products and services, announced that it has reached an agreement with Oceania Capital Partners Limited of Sydney, Australia to acquire OCP's Signature Security Group for AUD $171 million. Tyco intends to combine Signature Security's Australian and New Zealand operations with its ADT Security business under the ADT name.
Signature Security is a provider of electronic security services in Australia and New Zealand, providing security installation and monitoring services to more than 90,000 premises with annualized revenue of approximately AUD $80 million. ADT, part of Tyco's security solutions business has approximately nine million customers around the world and 2010 revenue of $7.7 billion.