2011-02-24 10:54 
Transaction Brings Together
Signature Security with Tyco's ADT Business, Creating Stronger
Player in the Australian and New Zealand Security
Industry
SCHAFFHAUSEN, Switzerland, Feb. 24,
2011 /PRNewswire-Asia/ -- Tyco International Ltd. (NYSE: TYC)
announced today that it has reached an agreement with Oceania
Capital Partners Limited (ASX: OCP) to acquire OCP's Signature
Security Group for AU$171 million. Tyco intends to combine
Signature Security's Australian and New Zealand operations with its
ADT Security business under the ADT name.
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 annualized revenue of approximately
AU$80 million. ADT, part of Tyco's security solutions business, is
the world's largest electronic security provider with approximately
9 million customers around the world and 2010 revenue of US$7.7
billion.
"This acquisition provides us with
the opportunity to strengthen ADT's business in the Australian and
New Zealand security markets while advancing our strategy for
growth in the global security industry," said Ed Breen, Tyco
Chairman and Chief Executive Officer. "Signature Security is an
excellent strategic fit with our ADT business, providing us with
increased scale and attractive operating synergies."
According to Robert Zhu, President,
ADT Asia-Pacific, both ADT and Signature are well managed
businesses with strong operating platforms and a shared focus on
providing outstanding customer service.
"Adding Signature Security to our
portfolio means that we will be an even stronger partner for our
customers as we leverage its experienced team of employees and
geographic footprint. This will enable us to broaden our
sales, installation and service capabilities in the Australia and
New Zealand markets."
The transaction is expected to close
during the third quarter of Tyco's fiscal year, which quarter
begins on April 1, 2011. The transaction is subject to customary
closing conditions.
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 US$17 billion and has more than
100,000 employees worldwide. More information on Tyco can be found
atwww.tyco.com.
ABOUT ADT
SECURITY
With more than a century's worth of
experience, ADT Security is the world's largest electronic security
company, providing electronic security solutions to more than nine
million residential, commercial and retail customers
worldwide. ADT Security's products include alarm systems and
integrated security applications that link access control, CCTV,
electronic article surveillance and source tagging systems.
Please visit ADT's website at http://www.adt.com/global
ABOUT SIGNATURE
SECURITY
Signature Security Group,
headquartered in Sydney, Australia, is one of the leading providers
of security system installation and monitoring services for
residential and commercial properties in Australia and New Zealand,
servicing over 90,000 premises. For more information, please
visit www.signaturesecurity.com.au
Media Contact:
ADT Security
Tan Weiwei
Assistant Manager, Communications, Asia Pacific
Tel: +65-6389-8239
Email: [email protected]
SOURCE ADT Security