Tyco ties together its two top territories of fire protection and security. Its Tyco Integrated Security segment provides security products such as access control systems, asset tracking products (using GPS or RFID technology), burglar alarms, fire detection and panic devices, and alarm and control monitoring equipment. In addition, SimplexGrinnell provides fire alarm, sprinklers, and fire extinguishers to clients in Europe. The company's products protect homes, banks, and retail stores, among others. Tyco International serves customers in 50 countries through 1,000 locations. The company's former unit, Tyco Flow Control, made valves and related devices for water, but it was merged with Pentair in late 2012.
In order for Tyco International to focus on its fire and security operations, Tyco Flow Control was combined with Pentair in September 2012 in an all-stock merger valued at around $10 billion. Tyco shareholders own 52.5% of the combined company (named Pentair), and Pentair shareholders own about 47.5%. Also during this time, Tyco spun-off its ADT security business in order to focus on its own line of security system equipment, installation, and monitoring products.
Over the years, non-core assets, businesses that are cyclical, or signal lackluster opportunities for growth, have been divested. In late 2010 Tyco spun off 51% of its Electrical and Metal Products business, via a separate, publicly traded company, Atkore International, to private equity Clayton, Dubilier & Rice for about $720 million. Atkore included the Allied Tube and Conduit and AFC Cable Systems divisions (pipes, valves, and fittings used in water plants and industrial processes).
In 2011 Tyco purchased Signature Security Group from Oceania Capital Partners for AU $171 million (approximately $171.4 million). Signature Security broadened its offerings and presence with a slate of electronic security services in Australia and New Zealand. By late 2011 Tyco also snapped up Visonic, an Israel-based maker of wireless security systems, including burglar alarms, control panels, controllers, detectors, and transmitters, for $100 million in cash. – less