Tyco Security Products has completed the acquisition of Exacq Technologies, the video management systems (VMS) company, for $150 million in cash.
This acquisition expands Tyco Security Products’ presence in the rapidly expanding network video security sector, the firm says. Exacq is expected to generate annualized revenues in the fiscal year 2014 of about $75 million.
Mike Ryan, President of the Tyco Security Products business unit,s aid: “We are excited about bringing the Exacq product portfolio into our business and are committed to its continued development and to supporting Exacq’s existing customers. With Exacq, we will be able to reach a broader segment of customers demanding video IP security solutions than we are currently able to serve. We believe that the combination of Exacq and American Dynamics video solutions, coupled with Tyco Security Products’ global service and install footprint, will enable us to better serve our customers’ requirements.”
“Exacq’s management and employees have been instrumental in getting them to where they are today, and Tyco Security Products is looking forward to welcoming them and working together to further our combined success.”
Exacq will be integrated into the Tyco Security Products business unit.
