ComNet Acquired by Holding Company ACRE
The acquisition of ComNet will provide complimentary communication technologies utilized across ACRE’s access control, intrusion, video and cloud-based product portfolios.
DANBURY, Conn. – ACRE, the holding company that owns Vanderbilt Industries, Mercury Security and Access Control Technology (ACT), announced today it has acquired video and data transmission equipment manufacturer Communications Networks (ComNet), based here. Terms of the deal were not disclosed.
The acquisition of ComNet will provide complementary communication technologies utilized across ACRE’s access control, intrusion, video and cloud-based product ranges, according to a news release. ComNet’s portfolio includes a broad line of fiber optic, copper and wireless video and data transmission equipment that is designed to meet the needs of security and surveillance in the intelligent transportation systems, utility and industrial markets.
“In line with our mission, the ComNet acquisition, with their extensive offerings in the communication and data transmission technologies, continues to round out the product portfolio provided by the ACRE family of companies,” says ACRE CEO Joe Grillo.
“ComNet is excited to join the ACRE group and recognizes the strength it will bring to the brand and the synergies that are immediately apparent with the other ACRE companies,” says Andrew Acquarulo Jr., ComNet CEO and president.
Grillo formed ACRE in 2012 as a platform to consolidate acquisitions in the electronic security industry. The holding company acquired the Schlage SMS business from Ingersoll Rand in 2012, followed by the 2013 acquisition of Mercury Security, the 2015 purchase of the Security Products Division of Siemens AG and the acquisition of Dublin-based ACT in November.
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