Tyco International Ltd has announced an agreement to purchase substantially all of the assets of Sensormatic Security Corp. (SSC) for approximately USD 81 million. SSC is a franchisee of Sensormatic Electronics Corp. in the states of Virginia and Maryland, US and in the District of Columbia. Sensormatic Electronics Corp. originally granted the franchise to SSC more than 40 years ago, prior to Tyco’s acquisition of Sensormatic in 2001. It is the last remaining major Sensormatic franchise. The transaction is expected to close as soon as practicable following satisfaction of all closing conditions. Contemporaneously, Sensormatic and SSC will also settle the previously disclosed litigation between the parties related to the SSC franchise.
