INDIANAPOLIS — Tyco Int’l announced Wednesday it 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, the company stated in a press release.
Based in Indianapolis, Exacq Technologies provides solutions that scale from small single camera applications to large, integrated systems with thousands of cameras. The business is expected to generate annualized revenues in fiscal 2014 of approximately $75 million.
“The addition of Exacq to our video portfolio expands our best-in-class video solutions,” says Mike Ryan, president of Tyco Security Products. “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. Meeting the varied requirements of the diverse video customer base provides us with a unique position in the security industry, and increases Tyco Security Products’ leadership position in the video security business.”
Tyco said it 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.