Network security an acquisition focus of IR

SSN Staff  - 
Thursday, May 6, 2004

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 Detroit’s greater metropolitan area and bolsters the company’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 Technologies’ network expertise and ability to network a customer’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 company’s plans to increase its service related business. In 2001, 16 percent of the company’s total revenue came from installation, service and after market contracts, a number that grew to approximately 25 percent in 2003.
Ingersoll-Rand’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.