Cooper Industries Announces the Acquisition of MadahCom, Inc.
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Industry-leading manufacturer of wireless Mass Notification Systems for military, commercial and industrial locations
HOUSTON, May 1, 2007 -- Cooper Industries, Ltd. (NYSE:CBE) today announced the acquisition of MadahCom, Inc. for $43 million. MadahCom, based in Florida, is a privately owned manufacturer of secure wireless emergency control and Mass Notification Systems ("MNS"). With sales of approximately $22 million of hardware, software and installation services in 2006, it currently has more than 200 installations worldwide at military, government, commercial sites, industrial locations and other campus environments.
MadahCom will become part of Cooper Wheelock's Notification Systems business. With this acquisition, Cooper Wheelock expands its ability to provide customers with comprehensive indoor and outdoor notification system solutions designed to protect, alert and inform people in the event of an emergency.
"MadahCom's capabilities in wireless technology deliver the industry-leading solution in the rapidly growing MNS market, where delivering the right message to the right people at the right time is paramount for evacuation and security. Coupled with our acquisition of Wheelock, Inc. in 2006 and our existing Cooper Menvier business, we now have a strong global platform in the fire and safety notification market," said Cooper Industries Chairman and Chief Executive Officer Kirk S. Hachigian. "The acquisition of MadahCom also builds upon our core competency in the RF wireless space, a technology that we have leveraged across Cooper to create 'smart' products that provide enhanced value for our customers."
MadahCom's flagship products, WAVES (Wireless Audio Visual Emergency System) and TACWAVES (Tactical WAVES), a portable alerting system, are personnel and public warning systems and feature sophisticated command and control software to activate safety sirens, customized voice messages and visual alerts via secure networks. The WAVES system also utilizes various other modes of communication including SMS, desktop alerting and dial-out systems. WAVES is classified as Commercial-Off-The-Shelf by the United States Department of Defense, making it acceptable to the widest range of government and military applications, and it is the only personnel alerting system that meets all of the Pentagon Anti-Terrorism Sub-Directorate requirements for force protection at military bases.
About Cooper Wheelock
Cooper Wheelock, Inc., is an affiliate of Cooper Menvier, a division of Cooper Industries, Ltd. Cooper Wheelock is the global leader in notification, focused on meeting the growing demand for personnel and property safety. The company provides notification solutions including fire and security notification appliances, notification systems and industrial signaling products for government, healthcare, education and industry. For more information, please visit www.cooperwheelock.com
About Cooper Industries
Cooper Industries, Ltd. is a global manufacturer with 2006 revenues of $5.2 billion, approximately 85 percent of which are from electrical products. Incorporated in Bermuda with administrative headquarters in Houston, Cooper employs approximately 31,000 people and operates eight divisions: Cooper B-Line, Cooper Bussmann, Cooper Crouse-Hinds, Cooper Lighting, Cooper Menvier, Cooper Power Systems, Cooper Wiring Devices and Cooper Tools Group. Cooper Connection provides a common marketing and selling platform for Cooper's sales to electrical distributors. For more information, visit the website at www.cooperindustries.com
For information contact:
Jon Safran,
Director, Investor Relations,
(713) 209-8610,
safran@cooperindustries.com
