CORK, Ireland, Feb. 27, 2015 /PRNewswire/ -- Tyco
International plc (NYSE: TYC) announced today that it has completed
the acquisition of Industrial Safety Technologies (IST), a global
leader in gas and flame detection, from Battery Ventures for
$329.5 million in cash. On an
annualized basis, this business is expected to generate
approximately $140 million in
revenue.
The combination of IST with Tyco's Scott Safety business will
make Tyco one of the largest global designers and manufacturers of
gas and flame detection products, offering customers a full range
of safety solutions across both fixed and portable detection.
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.
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 SEC, including the
Company's Form 10-K for the fiscal year ended September 26,
2014.
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SOURCE Tyco