Invensys Building Systems has merged with building automation and security systems company TAC. Schneider Electric, which owns TAC, reported today that it had paid $296 million to acquire Invensys Building Systems (IBS).
The merger of Invensys Building Controls and TAC allows TAC to offer additional products for building automation and security, including IBS' controllers and devices. TAC is best known for its software systems which can manage access control, HVAC and video, while IBS brings on a strong engineering and manufacturing expertise, best known for valves, actuators, controllers and the physical components of building automation.
In a statement announcing the merger, TAC and IBS indicated that the merger will help the companies create expanded IP-managed product lines and allow the combined company to offer an even more complete line of solutions for building/corporate needs -- from HVAC to security, lighting, power monitoring, machine automation and safety.
The joining of the two companies is expected to not only create product synergies, but the acquisition of Invensys Building Systems will also help to expand TAC's reseller, distributor and service provider channels.
At the core of Ivensys Building System, which was formerly known as Siebe Environmental Controls, is climate control. In its merger with TAC, IBS brings such brands as Barber-Colman, Com-Trol, Crysalis, Erie, DuraDrive and EconoDrive -- a variety of product lines which covers everything from switches to thermostats and pneumatic devices.
The acquisition of IBS not only adds depth to TAC's management team, but IBS brings an engineering facility in Richmond, Va., and a combined engineering and manufacturing facility in Loves Park, Ill. The merged company will be using the TAC name and brand.