Sensormatic, Tyco

When Tyco buys a company for $90 million, it's generally a good story for us anyway, but this bit about Tyco buying the last remaining bit of Sensormatic is pretty interesting. I'm still looking into it, but this Winner Security company seems to have done pretty well for itself. Check out this court decision from 2005 (warning: that link goes to a pdf). Basically, it bought a Sensormatic franchise in 1977 for $66,000, then leased it back to Sensormatic for more than $6 million over 20 years, then didn't allow Sensormatic to buy the franchise back when the 20 years was up because Sensormatic missed the 90-day notice deadline by 47 days, and now finally has sold the franchise back to Tyco (which bought Sensormatic in 2001) for $90 million. I've got to think Mr. James Winner has his face on a dart board somewhere in the Sensormatic/Tyco offices.