BOSTON – Schneider Electric, parent company of TAC, announces the acquisition of Invensys Building Systems (IBS), a division of Invensys Controls, for $296 million. IBS will merge with TAC, a provider of building automation, security systems and energy solutions. This follows the merger with Invensys ABS EMEA in 2005. Revenues for the combined company are expected to exceed $1.3 billion this year.
The acquisition will allow TAC to offer additional lines of controllers, peripherals and field devices, including security products.
