Tyco Exacq deal done
NEUHAUSEN, Switzerland—In what Tyco Security Products’ director of product management Steve Carney called a “perfect fit,” Tyco announced July 29 that it has completed the acquisition of VMS provider Exacq Technologies for $150 million in cash.
The Exacq solution will complement Tyco’s existing Victor and VictorEdge solutions, Carney said.
“It’s all about who uses video and why,” he said. “The Victor products are designed for “active video surveillance,” installations in casinos or large health care facilities that have control rooms, a high camera count and a proactive surveillance program.
On the other hand, the Exacq solution is ideal for “event-driven uses,” he said. While the system “delivers a powerful video experience,” and may have a high camera count and multiple locations, the person in charge of video surveillance is the business owner or an executive with other responsibilities besides security.
Tyco announced its intention to buy Exacq in June. The business is expected to generate annualized revenues in fiscal 2014 of approximately $75 million, according to Tyco.
Tyco decided to buy Exacq because of its “great technology and talent,” Carney said, and it intends to keep Exacq intact. The company will stay in the same location, and maintain its facilities and staff. “We want them to stay in the same location, the leadership [and entire team] will stay in place … from the engineering and testing to the top-level leadership.”
Tyco will keep the Exacq brand as well.
Tyco will also integrate Exacq with its IP camera suite (the American Dynamics Illustra line). In addition to bringing more functionality to end users, this will ease and speed installation time for integrators, Carney said.
Tyco Security Products business unit is a global provider of access control, video, and location-based tracking and intrusion solutions.