Tyco Makes Split Official
|Brian McDonald, chief operating officer, Tyco Fire & Security, and acting president, Tyco Integrated Security|
The first step was a name change to distinguish ADT’s residential and commercial business sides, but the biggest change came yesterday when Tyco Integrated Security (TIS) shed its ADT roots altogether as part of parent company Tyco International’s split into three separate, publicly traded companies.
The three independent companies are ADT Corp., which provides alarm installation and monitoring services for residential and small business customers in North America; Tyco, which is made up of Tyco’s security and fire businesses (including TIS); and Pentair Ltd., the company’s new flow control business unit.
Yesterday’s official split came almost three months to the day after the former ADT North America Commercial business unit became Tyco Integrated Security and more than a year after Tyco’s board of directors approved the split.
“Today marks an exciting day for Tyco Integrated Security, as we remain committed to helping protect what matters most to our customers. Backed by the resources of Tyco, we are able to help serve their needs even better than before,” Brian McDonald, chief operating officer for Tyco Fire & Security and acting president of Tyco Integrated Security, said in a statement. “We are building on over 100 years of experience and will continue to be singularly focuses on delivering efficient, intuitive security solutions customized to best meet our customers’ needs.”
While still operating under the ADT name, TIS occupied the top spot on SDM’s Top Systems Integrators Report for 2012. The company said in a statement that with the completion of the split, the reconfigured Tyco is now the largest dedicated fire protection and security company in terms of market share. The company’s annual revenues top $10 billion annually, and Tyco has an employee base of 69,000 in more than 1,000 locations in 50 countries.
“This is an exciting day for Tyco,” said George Oliver, Tyco’s new CEO in a statement. “As a more focused company we are positioned to continue to invest in technology and innovation to provide industry-leading fire and security solutions.”
As reported at the time of the TIS name change, the company will continue to provide a comprehensive suite of integrated security solutions, including managed and hosted services that can be tailored to address the unique needs across industries across North America. Tyco said TIS will continue to provide commercial security services with a deep understanding of both the local-market needs, as well as the requirements of large enterprises. Additionally, customers will continue to experience national security coverage from the point of integration and installation to ongoing management and services.