Tyco Security Products has completed the acquisition of Exacq Technologies, a developer of open architecture video management systems (VMS) for security and surveillance applications for $150 million in cash. The business is expected to generate annualised revenues in fiscal 2014 of approximately $75 million.
This acquisition complements and expands Tyco Security Products’ product offering and increases the company’s presence in the rapidly expanding network video security industry. This acquisition will further enable Tyco Security Products to serve the varied needs of its global customers who are seeking cost-effective, easy-to-use and easy-to- install video security solutions.
Pioneered by a group of video industry veterans, Exacq Technologies offers intuitive network video solutions that scale from small single camera applications to large, integrated systems with thousands of cameras. The company has established a strong brand in North America, with a blue-chip and loyal customer base in the corporate, retail, educational and banking verticals. Exacq has achieved significant annual growth in revenues and profitability since its inception in 2005, as customers have migrated from traditional analog to Exacq’s IP-based video solutions.