Vanderbilt Wraps Up Siemens Security Products Acquisition
Vanderbilt Industries’ acquisition of Siemens’ Security Products division adds significant technology capabilities and advantages to the existing product portfolio.
PARSIPPANY, N.J. – Vanderbilt Industries has completed the acquisition of Siemens’ Security Products business, the company announced on Monday.
The deal, which was announced in October 2014, expands Vanderbilt’s global footprint, and adds significant technology capabilities and advantages to the existing product portfolio, according to a company release.
RELATED: Vanderbilt Industries Acquires Siemens’ Security Products Business
The combined company will operate under the Vanderbilt brand, with its headquarters based in Wiesbaden, Germany. Well-known security industry veteran Joseph Grillo will serve the company as managing director.
“The acquisition of Security Products from Siemens builds upon Vanderbilt’s solid foundation and strong legacy, which is derived from its nearly three decades of experience in the security industry,” Grillo says. “I’m delighted to finalize this purchase on schedule as it will enable our customers and partners to reap significant benefits.”
With significant presence in North America and Europe, Vanderbilt will now look to capitalize on opportunities in other high-growth regions including South America and Asia Pacific.
Siemens’ Security Products division brings to Vanderbilt a comprehensive technology suite including access control, intrusion alarm and video surveillance products, as well as well-known brand names, such as Aliro, Alarmcom, Bewator, Cotag, Europlex, SPC and Vectis. The existing brands will remain intact for the foreseeable future.
“We’re the only independent business with proven capability to operate at this level in the industry while providing an agile and responsive service and support structure,” said Grillo. “As we welcome the Security Products division into the Vanderbilt organization, we will continue to focus on providing this level of exceptional service while delivering technologies that are intuitive, flexible and scalable,” Grillo says. “We have a commitment to reinvest at least 10 percent of our annual revenue into new research and development, and therefore, look forward to introducing new innovations that exceed industry expectations and drive sustained growth.”
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