Tyco International announced Wednesday that is has agreed to acquire Australia-based alarm installation and monitoring firm Signature Security Group from Oceania Capital Partners Limited for AU $171 million.
According to a statement, Signature Security’s operations in Australian and New Zealand will be combined with Tyco’s ADT Security business under the ADT name.
In a statement, Tyco Chairman and CEO Ed Breen said he expects the acquisition to strengthen ADT’s business in the Australian and New Zealand security markets.
"Signature Security is an excellent strategic fit with our ADT business, providing us with increased scale and attractive operating synergies," Breen said.
The deal is expected to close during the third quarter of Tyco’s fiscal year, which begins on April 1.