Tyco International Ltd. (TYC) has agreed to buy Exacq Technologies, a developer of open architecture video management systems for security and surveillance applications, for $150 million in cash.
Tyco said the deal will complement its Security Products' video technology portfolio while strengthening its presence in the video security market.
The acquisition is expected to close later this year. Exacq is anticipated to generate annualized revenues of about $75 million for fiscal year 2014.
"The addition of Exacq to our video portfolio expands our best-in-class video solutions," said Mike Ryan, President of Tyco Security Products.
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