NEUHAUSEN, Switzerland,
May 22, 2014 /PRNewswire/
-- Tyco (NYSE: TYC) today announced that Tyco Far East
Holdings Ltd., a wholly-owned subsidiary, has completed the sale of
Tyco Fire & Security Services
Korea Co. Ltd. and its subsidiaries (ADT Caps Co., Ltd., Capstec
Co., Ltd. and ADT Security Co., Ltd.) that form and operate the
company's South Korean security business ("ADT Korea") to The
Carlyle Group (NASDAQ: CG), in a cash transaction valued at
$1.93 billion.
ADT Korea is a leading provider of advanced security solutions
in South Korea, serving
approximately 475,000 small-and-medium-sized businesses, commercial
and residential customers through 7,500 employees and a nationwide
network that includes 69 branches.
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 65,000 employees in more
than 1,000 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.
SOURCE Tyco