IR to Buy Integrated Access Systems, Geoffrey Industries
Ingersoll-Rand Co. Ltd. announced it has agreed to acquire the stock of Integrated Access Systems (IAS) and its subsidiary, Geoffrey Industries, based in Parsippany, N.J. IAS provides specialty security systems integration, serving as a single source for integrating a facility’s access-control technologies, CCTV and alarm monitoring systems. Geoffrey Industries is a manufacturer of card access, alarm monitoring and integrated CCTV systems. The transaction is expected to be completed by the end of August 2003. Terms were not disclosed.
IAS has eight offices throughout the United States and had revenues of approximately $27 million in 2002. Customers include financial service companies, multisite manufacturers, insurance companies and national retailers.
IAS will become part of IR’s security and safety sector and operate under the company’s Electronic Technologies Corp. (ETC) business unit. Geoffrey Industries will join with IR’s Interflex business unit to provide electronic access control, video management and electronic credential systems technology.
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