Tyco to acquire Exacq Technologies
NEUHAUSEN, Switzerland – Tyco announced June 19th that the company has reached an agreement to acquire Exacq Technologies, a developer of open architecture video management systems (VMS) for security and surveillance applications for $150 million in cash.
The acquisition is expected to complement Tyco Security Products’ video technology portfolio while strengthening its presence in the video security market. This acquisition also furthers Tyco’s growth strategy, while expanding the company’s technology and product portfolio.
“The quality of Exacq’s products coupled with ease of use and ease of installation help us address the needs of a very different type of video user than we do with our current portfolio,” said Mike Ryan, President of Tyco Security Products.
Following the acquisition, the company intends to integrate Exacq into its Tyco Security Products business unit, a global provider of access control, video, location-based tracking and intrusion solutions.
The transaction is expected to close later this year and is subject to customary closing conditions.