Tyco has agreed a deal to acquire Exacq Technologies for $150 million in cash, in a move expected to boost its presence in the video security market.
The acquisition for the open architecture video management systems (VMS) developer, due to close later this year, will see Exacq become part of the Tyco Security Products business unit.
Exacq is a rapidly-growing VMS provider and its solutions work on a range of systems, from small single camera applications to huge integrated systems with thousands of cameras.
The acquisition is predicted to supplement Tyco Security Products’ video technology portfolio and strengthen its leading position in the video security market.
Tyco said in a statement that it expects Indianapolis-based Exacq to general annual revenues of approximately $75 million in 2014.
Mike Ryan, President of Tyco Security Products, said: “The addition of Exacq to our video portfolio expands our best-in-class video solution.
“The quality of Exacq’s products coupled with ease of use and ease of installation help us address the needs of a very different type of video user than we do with our current portfolio.
“Meeting the varied requirements of the diverse video customer base provides us with a unique position in the security industry, and increases Tyco Security Products’ leadership position in the video security business.”