BOCA RATON, Fla. — Tyco Int’l Ltd. said today it has completed the acquisition of Visonic Ltd., a wireless security systems provider, for roughly $100 million in cash. The deal was first announced Sept. 15.
With annualized revenues of more than $75 million, Visonic’s technologies, including PowerG and PowerCode, are in use in more than 1 million wireless installations, according to a press release. Visonic will be folded into Tyco’s Security Products unit, which offers access control, intrusion and video solutions.
The deal allows Tyco to enhance its wireless offering and expand the company’s global footprint, Tyco Security Products President Mark VanDover explains.
“Visonic’s technological capabilities and strong presence in markets such as Europe enable us to further enhance the solutions and reach our intrusion security portfolio,” he says.