Tyco to buy Visonic for $100 million
SCHAFFHAUSEN, Switzerland—Tyco International will acquire security product manufacturer Visonic for $100 million, the company announced today. The deal is expected to close before the end of the year and is subject to customary closing conditions.
Security Systems News on June 21 reported that Tyco was in talks with Visonic.
Visonic, which has revenues of more than $75 million, is a provider of wireless technology for the security industry. It recently introduced its PowerG wireless communications technology, which “offers increased communications range and superior 128-bit encryption to secure communication between wireless sensors/detectors and panels. The PowerG technology builds on Visonic's PowerCode technology which is in use in more than 1 million wireless installations around the world,” according to a Tyco statement.
"The acquisition of Visonic 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," said Mark VanDover, president of Tyco Security Products in a prepared statement. "Visonic is an established leader in wireless security technology and its strong presence in the European security market complements Tyco's strength in the North American market."
Visonic is based in Tel Aviv, Israel, where it has a design center. It also has a manufacturing center in Kiryat Gat, Israel. The company has a presence in more than 100 countries, with a strong presence in Europe, Middle East and Africa, according to Tyco.