Transaction brings together Signature Security with Tycoâ€™s ADT Security business,expanding and strengthening service delivery to the Australian and New Zealand security industry.
Online PR News – 17-May-2011 – – Sydney, Australia, 2 May 2011: Tyco International Ltd. (NYSE: TYC) has completed its AU$171 million acquisition of Signature Security from Oceania Capital Partners Limited (ASX: OCP). Signature Security will now be combined with Tycoâ€™s ADT Security business.
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 annualised revenue of approximately AU$80 million. ADT Security, part of Tycoâ€™s security solutions business, is the world's largest electronic security provider with approximately 9 million customers around the world and annual revenue of more than US$7.7 billion.
Commenting on the acquisitionâ€™s completion, ADT Security Australia Managing Director, Mark Norton said:
"We are excited to complete this transaction which brings together two of the leading companies in the Australian and New Zealand residential and commercial security industry. It both enables us to strengthen our market leadership position and supports ADT Securityâ€™s vision for long-term growth in the Asia-Pacific region.
â€śADT and Signature have strong operating platforms and a shared dedication to quality customer service. As we move forward together we plan on retaining the best elements of both businesses, leveraging our combined scale and resources to offer better sales, installation and service capabilities to our customers.
â€śWhile integration will take some time, our immediate focus is on ensuring the process is a smooth and collaborative one. To this end, we have a plan in place to ensure a successful transition for our staff, customers and other stakeholders over the coming months,â€ť he said.
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 more than US $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 centuryâ€™s worth of experience, ADT Security is the worldâ€™s largest electronic security company, providing electronic security solutions to more than seven million residential, commercial and retail customers worldwide. ADT Securityâ€™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
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