Tyco Completes Visonic Acquisition; Strengthens Wireless Technology Portfolio
Tyco International Ltd. (NYSE: TYC) announced that that company completed the acquisition of Visonic Ltd. (TASE: VSC.TA), a global developer and manufacturer of electronic security systems and components, for approximately $100 million in cash. The acquisition was first announced on Sept. 15, 2011.
The Visonic business, which has annualized revenues of more $75 million, will be integrated into Tyco’s Security Products unit.
A provider of advanced wireless technology for the security industry, 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.”