Tyco Security Products Completes Exacq Acquisition
Tyco Security Products announced that it completed the acquisition of Exacq Technologies, a developer of open architecture video management systems (VMS) for security and surveillance applications for $150 million in cash. The company stated in a press release that this acquisition complements and expands Tyco Security Products’ product offering allowing it to serve the varied needs of its global customers who are seeking cost-effective, easy-to‐use and easy-to- install video security solutions and also increases the company’s presence in the rapidly expanding network video security industry.
Pioneered by a group of video industry veterans, Exacq Technologies offers intuitive network video solutions that scale from small single camera applications to large, integrated systems with thousands of cameras. The company has established a strong brand in North America, with a blue-chip and loyal customer base in the corporate, retail, educational and banking verticals.
Exacq achieved significant annual growth in revenues and profitability since its inception in 2005, as customers have migrated from traditional analog to Exacq’s IP-based video solutions. The business is expected to generate annualized revenues in fiscal 2014 of approximately $75 million.
“We are excited about bringing the Exacq product portfolio into our business and are committed to its continued development and to supporting Exacq’s existing customers. With Exacq, we will be able to reach a broader segment of customers demanding video IP security solutions than we are currently able to serve. We believe that the combination of Exacq and American Dynamics video solutions, coupled with Tyco Security Products’ global service and install footprint, will enable us to better serve our customers’ requirements,” said Mike Ryan, president of the Tyco Security Products business unit.
Ryan continued, “Exacq’s management and employees have been instrumental in getting them to where they are today, and Tyco Security Products is looking forward to welcoming them and working together to further our combined success.”
Exacq will be integrated into the Tyco Security Products business unit, a leading global provider of access control, video, location-based tracking and intrusion solutions.