International. Tyco (NYSE: TYC) recently announced that the company has reached an agreement to acquire, for $150 million in cash, Exacq Technologies (Exacq), a developer of open architecture video management systems (VMS) for security and surveillance applications.
The acquisition is expected to complement Tyco Security Products' video technology portfolio while strengthening its presence in the video security market. This acquisition also strengthens Tyco's disciplined growth strategy, while expanding the company's technology and product portfolio.
Exacq, a leader in VMS, offers intuitive solutions ranging from small single-camera applications to large integrated systems with thousands of cameras. In fiscal 2014, the business is expected to generate annual revenue of approximately $75 million.
"The addition of Exacq to our portfolio expands our world-class video solutions," said Mike Ryan, president of Tyco Security Products. "The quality of Exacq's products, coupled with their ease of use and installation, helps us meet the needs of a very different type of video user than our current portfolio points to. Meeting the diverse needs of the diverse video user base places us in a unique place in the security industry, and consolidates Tyco Security Products' leadership position in the video security business."
Following the acquisition, the company intends to integrate Exacq into its Tyco Security Products business unit, a leading global provider of solutions in access control, video, location device security and intrusion detection. Exacq, based in Indianapolis, Indiana, offers its solutions through a network of distributors, marketers and direct sales representatives.
The closing of the transaction is expected at the end of this year, which will be subject to the usual closing conditions.
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