Tyco Completes Acquisition of Industrial Safety Technologies
The $329.5 million cash transaction will allow Tyco to offer customers a full range of fire-safety solutions across both fixed and portable detection.
CORK, Ireland – Tyco Int’l said it completed the acquisition of Industrial Safety Technologies (IST), a global provider of gas and flame detection gear, from Battery Ventures for $329.5 million.
In announcing the cash transaction in mid-December, Tyco said it would combine IST with its Scott Safety business, which makes respiratory protection gear and gas and flame detectors. Combining the companies will offer customers a full range of safety solutions across both fixed and portable detection, according to a press release.
Tyco expects IST, comprising five companies, to add $140 million to its annual revenue.
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