CORK, Ireland, Oct. 19, 2015 /PRNewswire/ -- Tyco (NYSE: TYC)
today announced that it has joined the City Digital consortium at
UI LABS. The consortium brings together university, industry and
civic communities to focus on urban infrastructure solutions, using
Chicago as a testbed for
technology and demonstration in areas such as transportation,
physical infrastructure, water and sanitation, and energy
management. Tyco joins as a premier partner in the
consortium, along with founding members Microsoft, Accenture,
ComEd, and Siemens.
"We are thrilled to join City Digital at UI LABS and play a key
role in the next wave of innovations that will enable the
development of smart cities around the world," said Chris Brown, Vice President of Strategy at
Tyco. "We look forward to contributing to that innovation
with the technology and systems integration expertise we have
developed in complex environments such as traffic and
transportation systems, international airports, campuses and
stadiums, among many others. Joining City Digital puts us on
the ground floor of potential future pilots involving smart
buildings and data service."
Steve Fifita, the Executive
Director of City Digital, says Tyco will play a critical role in
the consortium. "We are looking for partners who understand how to
leverage the unique partnership model UI LABS has created, and that
bring to bear a vast array of experience, technology and know-how
in the 'smart city' space. We are confident that Tyco's leadership
in safety and security systems is just one of the many innovative
ways they will contribute to the consortium."
City Digital and its premier partners including Tyco recently
took part in The White House Smart Cities Forum in Washington, D.C., where the Administration
committed funding for smart cities research and highlighted City
Digital as a representative consortium of leading public and
private sector partners focused on major urban infrastructure
challenges.
ABOUT TYCO
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.
ABOUT UI LABS
UI LABS solves large-scale industrial
challenges by forming consortia of academic, corporate and civic
partners who innovate and commercialize new technology solutions.
UI LABS is developing a portfolio of applied research and
commercialization programs that lead to a return on investment for
its partners and improve local, regional and national
competitiveness. For more information on UI LABS, please visit
UILABS.org.
ABOUT CITY DIGITAL
City Digital, UI LABS' second lab
program, will develop and test urban infrastructure solutions in
Chicago that will lead to real
improvements in cities across the world. Its four areas of focus
include transportation, physical infrastructure, water and
sanitation, and energy management. For more information on City
Digital, please visit http://www.citydigital.uilabs.org/.
FORWARD-LOOKING STATEMENTS
This press release
contains a number of forward-looking statements. In many cases
forward-looking statements are identified by words, and variations
of words, such as "anticipate", "estimate", "believe", "commit",
"confident", "continue", "could", "intend", "may", "plan",
"potential", "predict", "positioned", "should", "will", "expect",
"objective", "projection", "forecast", "goal", "guidance",
"outlook", "effort", "target", and other similar words. However,
the absence of these words does not mean the statements are not
forward-looking. Examples of forward-looking statements include,
but are not limited to, revenue, operating income, earnings per
share and other financial projections, statements regarding the
health and growth prospects of the industries and end markets in
which Tyco operates, the leadership, resources, potential,
priorities, and opportunities for Tyco in the future, Tyco's credit
profile, capital allocation priorities and other capital market
related activities, and statements regarding Tyco's acquisition,
divestiture, restructuring and other productivity initiatives. The
forward-looking statements in this press release are based on
current expectations and assumptions that are subject to risks and
uncertainties, many of which are outside of our control, and could
cause results to materially differ from expectations. Such risks
and uncertainties include, but are not limited to: economic,
business, competitive, technological or regulatory factors that
adversely impact Tyco or the markets and industries in which it
competes; unanticipated expenses such as litigation or legal
settlement expenses; tax law changes; and industry specific events
or conditions that may adversely impact revenue or other financial
projections. Actual results could differ materially from
anticipated results. Tyco is under no obligation (and expressly
disclaims any obligation) to update its forward-looking statements.
More information on potential factors that could affect the
Company's financial results is included from time to time in the
"Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" sections of the
Company's public reports filed with the U.S. Securities and
Exchange Commission (SEC), including the Company's Form 10-K for
the fiscal year ended September 26,
2014.
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SOURCE Tyco