WESTFORD, Mass. — A month after announcing plans to acquire video management systems (VMS) developer Exacq Technologies for $150 million in cash, Tyco Security Products has closed the deal, the company announced Monday.
Based in Indianapolis, Exacq Technologies provides solutions that scale from single camera applications to integrated systems with thousands of cameras. The business is expected to generate annualized revenues in fiscal 2014 of approximately $75 million.
Tyco will integrate Exacq into the Tyco Security Products business unit, a provider of access control, video, location-based tracking and intrusion solutions.
“With Exacq, we will be able to reach a broader segment of customers demanding video IP security solutions than we are currently able to serve,” says Mike Ryan, president of Tyco Security Products. “We believe that the combination of Exacq and American Dynamics video solutions, coupled with Tyco Security Products’ global service and install footprint, will enable us to better serve our customers’ requirements.”