PEMBROKE, Bermuda, July 25 /PRNewswire-FirstCall/ -- Tyco International
Ltd. (NYSE: TYC, BSX: TYC) announced today an agreement to purchase
substantially all of the assets of Sensormatic Security Corporation (SSC)
for approximately $81 million. SSC is a franchisee of Sensormatic
Electronics Corporation in the states of Virginia and Maryland and in the
District of Columbia.
Sensormatic Electronics Corporation originally granted the franchise to
SSC more than 40 years ago, prior to Tyco's acquisition of Sensormatic in
2001. It is the last remaining major Sensormatic franchise. Under the
original agreement, SSC was granted rights to sell, install and service
certain Sensormatic products and entitled to commissions on certain
Sensormatic products sold, installed or shipped into its franchise
territories by other companies.
The transaction is expected to close as soon as practicable following
satisfaction of all closing conditions. Contemporaneously, Sensormatic and
SSC will also settle the previously disclosed litigation between the
parties related to the SSC franchise.
Sensormatic, part of Tyco International, is the industry leading
provider of retail loss prevention solutions. The Sensormatic solutions
portfolio is sold through ADT and Tyco partners around the world.
ABOUT TYCO INTERNATIONAL
Tyco International (NYSE: TYC) is a diversified, global company that
provides vital products and services to customers in more than 60
countries. 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 2007 revenue of more than $18
billion and has 118,000 employees worldwide. More information on Tyco can
be found at http://www.tyco.com.
SOURCE Tyco International Ltd.
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Related links:
http://www.tyco.com
CONTACT:
News Media, Paul Fitzhenry, +1-609-720-4261,
pfitzhenry@tyco.com, or Investor Relations, Ed Arditte,
+1-609-720-4621, or Antonella Franzen, +1-609-720-4665, all of
Tyco International Ltd.
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