SCHAFFHAUSEN, Switzerland,
Feb. 23, 2011 /PRNewswire/ -- Tyco
International Ltd. (NYSE: TYC) announced today that it has reached
an agreement with Oceania Capital Partners Limited (ASX: OCP) to
acquire OCP's Signature Security Group for AU $171 million. Tyco intends to combine Signature
Security's Australian and New
Zealand operations with its ADT Security business under the
ADT name.
Signature Security is a leading provider of electronic security
services in Australia and
New Zealand, providing security
installation and monitoring services to more than 90,000 premises
with annualized revenue of approximately AU $80 million. ADT, part of Tyco's security
solutions business, is the world's largest electronic security
provider with approximately 9 million customers around the world
and 2010 revenue of $7.7 billion.
"This acquisition provides us with the opportunity to strengthen
ADT's business in the Australian and New
Zealand security markets while advancing our strategy for
growth in the global security industry," said Ed Breen, Tyco Chairman and Chief Executive
Officer. "Signature Security is an excellent strategic fit with our
ADT business, providing us with increased scale and attractive
operating synergies."
According to Robert Zhu,
President, ADT Asia-Pacific, both ADT and Signature are well
managed businesses with strong operating platforms and a shared
focus on providing outstanding customer service.
"Adding Signature Security to our portfolio means that we will
be an even stronger partner for our customers as we leverage its
experienced team of employees and geographic footprint. This
will enable us to broaden our sales, installation and service
capabilities in the Australia and
New Zealand markets."
The transaction is expected to close during the third quarter of
Tyco's fiscal year, which quarter begins on April 1, 2011. The transaction is subject to
customary closing conditions.
ABOUT TYCO INTERNATIONAL
Tyco International Ltd. (NYSE: TYC) is a diversified, global
company that provides vital products and services to customers
around the world. Tyco is a leading provider of security products
and services, fire protection and detection products and services,
valves and controls, and other industrial products. Tyco had 2010
revenue of $17 billion and has more
than 100,000 employees worldwide. More information on Tyco can be
found at www.tyco.com.
ABOUT ADT SECURITY
With more than a century's worth of experience, ADT Security is
the world's largest electronic security company, providing
electronic security solutions to more than nine million
residential, commercial and retail customers worldwide. ADT
Security's products include alarm systems and integrated security
applications that link access control, CCTV, electronic article
surveillance and source tagging systems.
www.adtsecurity.com.au
ABOUT SIGNATURE SECURITY
Signature Security Group, headquartered in Sydney, Australia, is one of the leading
providers of security system installation and monitoring services
for residential and commercial properties in Australia and New
Zealand, servicing over 90,000 premises. For more
information, please visit www.signaturesecurity.com.au
SOURCE Tyco International Ltd.
