Tyco acquires Vue Technology
PEMBROKE, Bermuda--Tyco International on Oct. 7 announced that it would pay $43 million to acquire Vue Technology, a provider of RFID technology.
The acquistiion will strengthen Tyco's technology offerings to retailers through its Sensormatic business, according to a company release.
The acquisition "marks the next phase of Sensormatic's strategy for providing layered technology at the retail selling floor," said Scott Clements, vice president of Sensormatic Solutions in a prepared statement. "The complementary products, software and services offered by Vue Technology will provide Sensormatic and ADT the most comprehensive solution set to maximize retail store operations."
Robert Locke, CEO of Vue Technology, said in a prepared statement that "by bridging the gap between the sales floor and the stockroom," this acquisition will speed the adoption of RFID technology, making in-store operations more efficient and enhancing the customer experience.
Sensormatic solutions are sold through ADT and other Tyco partners.