Company News
Tyco International to Acquire Visonic
Visonic Ltd. (TASE: VSC.TA), a leading developer and manufacturer of wireless home security and safety systems and components, today announced that it has reached an agreement to be acquired by Tyco International’s (NYSE: TYC) Security Products business unit for approximately $100 million in cash, representing approximately $2.26 per share.
The acquisition is intended to help expand both companies’ security technologies and products to new business and provide access to new markets and significant growth opportunities. By becoming part of Tyco, Visonic will be able to provide innovative wireless technology and products to Tyco Security Products’ Intrusion business and enable both businesses to leverage the strengths of their combined research & development and manufacturing facilities.
