Stanley Works to buy OSI Security Devices
NEW BRITAIN, Conn.--The Stanley Works announced this week it has, through an undisclosed subsidiary, entered into a definitive agreement to buy OSI Security Devices, a wireless access control manufacturer based in Sunnyvale, Calif. OSI's most popular brand is Omnilock. Terms of the agreement were not released. Stanley Works and OSI, through a press representative, both declined comment on the deal.
"The OSI Security Devices acquisition will enable Stanley to provide a complementary offering to customers and OEM partners," Philip Bradney, Stanley vice president of business development, said in a release. "It will enable us to offer a full solution, from mechanical to online security."
Dick Rasmussen, chief executive officer at OSI, said in a statement, "We're very excited to join the Stanley team. The acquisition will give us access to markets and clients typically unavailable to a standalone organization."
OSI released its wireless access devices in late 2005, after introducing what it calls "the world's first battery-operated standalone electromechanical locks," with the Omnilock.