Network security an acquisition focus of IR
May 6, 2004
WOODCLIFF LAKE, N.J. - Ingersoll-Rand Security and Safety Solutions announced this week yet another acquisition in the integrated security systems arena with its purchase of FX Technologies.
The Plymouth, Mich., company offers a one-source approach to security systems integration. Its services include consulting and database systems engineering.
The acquisitions provides Ingersoll-Rand with a footprint in DetroitÃ¢â‚¬â„¢s greater metropolitan area and bolsters the companyÃ¢â‚¬â„¢s approach to integrated security, according to Jim Scott, president of Ingersoll-Rand Security and Safety Solutions.
What is key about this deal is FX TechnologiesÃ¢â‚¬â„¢ network expertise and ability to network a customerÃ¢â‚¬â„¢s existing business infrastructure with data and security management.
Over the past two years, Ingersoll-Rand has made a number of acquisitions in the security market, all part of the companyÃ¢â‚¬â„¢s plans to increase its service related business. In 2001, 16 percent of the companyÃ¢â‚¬â„¢s total revenue came from installation, service and after market contracts, a number that grew to approximately 25 percent in 2003.
Ingersoll-RandÃ¢â‚¬â„¢s most recent acquisition involved Integrated Access Systems, a systems integrator with a manufacturing arm called Geoffrey Industries. A year prior to that Ingersoll-Rand bought Electronic Technologies Corp., a company that provided coverage throughout the United States with 33 offices.
With ETC, Integrated Access and now FX Technologies combined, Ingersoll-Rand Security and Safety Solutions operates 60 service and sales operations in the United States and Europe.