Stanley Works to buy OSI Security Devices

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10/03/2007
In a deal that's been long rumored, Stanley Works announced it has entered into a definitive agreement to buy OSI Security Devices, make of Omnilock, for an unannounced sum. Things are very vague all around. According to a press release received at our offices, but posted nowhere else on the Web (otherwise I'd link to it), this was announced Sept. 25, and it was through one of Stanley's subsidiaries. Which one is unclear. Through Mullen PR, Stanley's agency, both parties have expressed zero desire to talk about the deal. "The OSI Security Devices acquisition will enable Stanley to provide a complementary offering to customers and OEM partners," said Philip Bradney, VP of BD, in the release. "It will enable us to offer a full solution, from mechanical to online security." Stanley Works couldn't do that before? Shows how much I know. I'm sure they'll both talk more after the deal goes final. One thing I'll definitely be looking into: The press release quotes OSI CEO Dick Rasmussen, and the web site mentions a Rick Rasmussen, as VP of sales and marketing. Now, are they the same guy? Father/son? Or could they be brothers both named Richard, like in the Bob Newhart show, where Larry had a brother Darryl, and another brother Darryl?