Tyco International acquires Trident Tek
PEMBROKE, Bermuda--Tyco International confirmed analyst predictions yesterday when it announced the acquisition of Trident Tek, a video surveillance development company, as part of its American Dynamics portfolio of video security technology and products.
The acquisition announcement followed predictions that "the time is right [for expansion and acquisitions] and the opportunity is there" for Tyco International, stated industry analyst Jack Mallon, managing partner of Mallon Associates, in an August interview with Security Systems News.
Mallon's prediction was based on a June 21 SEC filing revealing Tyco had taken out a $500 million line of credit through Citibank, which Mallon predicted was for the purpose of starting a "more aggressive growth program."
The acquisition of Trident Tek includes its network video management system, which utilizes an embedded Linux operating system based on server-client architecture.
"We are strategically investing, through acquisitions and internal development, to extend our leadership in video surveillance into the rapidly growing IP market," said Don Lyman, vice president and general manager of access control and video systems in a prepared statement.
Financial terms of the acquisition were not released.
For more on this story, please see the January issue of Security Systems News.