$100-million deal strengthens Tyco Security Products' presence in the European market.
Tyco International (TYC) has reached an agreement to acquire Visonic, a developer and manufacturer of electronic security systems and components. The cash deal is worth approxmiately $100 million, and Visonic's annual revenues are said to be more than $75 million. Tyco says the acquisition will strengthen the wireless-product and -technology portfolio of its Tyco Security Products business in the intrusion-secruity market.
Visonic recently introduced what it calls PowerG wireless communications technology, which the company says provides increased communications range and 128-bit encryption to secure communication between wireless sensors/detectors and panels. PowerG builds on Visonic's PowerCode technology, which the company says is used in more than a million wireless installations.
Tyco Security Products president Mark VanDover said the acquisition "strengthens the technology capabilities in our intrusion security portfolio and will enable us to enhance the solutions we can offer to our residential and commercial customers." He added that Visonic's strong European presence complements Tyco's established North American presence.
Tel Aviv, Israel-headquartered Visonic operates a design center at that headquarters facility and also has a manufacturing plant in Kiryat Gat, Israel.
