Tyco Completes Acquisition of Industrial Safety Technologies
CORK, Ireland – Tyco International plc (NYSE: TYC) announced today that it has completed the acquisition of Industrial Safety Technologies (IST), a global leader in gas and flame detection, from Battery Ventures for $329.5 million in cash. On an annualized basis, this business is expected to generate approximately $140 million in revenue.
The combination of IST with Tyco's Scott Safety business will make Tyco one of the largest global designers and manufacturers of gas and flame detection products, offering customers a full range of safety solutions across both fixed and portable detection.
Tyco (NYSE: TYC) is the world's largest pure-play fire protection and security company. Tyco provides more than three million customers around the globe with the latest fire protection and security products and services. A company with $10+ billion in annual revenue, Tyco has over 57,000 employees in more than 900 locations across 50 countries serving various end markets, including commercial, institutional, governmental, retail, industrial, energy, residential and small business. For more information, visit www.tyco.com.
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