Tyco / ADT Split Examined

Author: John Honovich, Published on Sep 18, 2011

On September 19, 2011 Tyco announced that they would be splitting themselves into 3 publicly traded, independent companies. This is important news for the security industry as 2 of those new companies would be security focused organizations. In this note, we examine how this is being done, what this means for the industry and what financial numbers are being revealed in the process.

The 2 security focused companies are going to be:

  • *** ***** ******** ***********, ********* **** ******* ** $*.* *******, that **** *** ******* ***** ********** ********/*********** ********. **** ** essentially *** ***** ********** ********.
  • ********** **** *** ********, ******** **** ******* ** $**.* *******, that *********** ******** **** ***** ******* ********* (**** ******** ********) and ***** ********** *********** ********.

** ********* *****, *** '************' ****** **** *** ** **** of * *********** ****** *** *** ************ ******** *******. **** industry ****** ******* ** ******** *** *********** ** ******* *** integrator ********** ** * ****** ******* (** ***/**** ******** ******** has **** *** *****). ************* *** ****, **** ***** **** not ****** **** *********. ***** *** **** ** **** ******* will ****** ******, **** **** ******* **** ***** ** ************* products ** **** ** *********** **** ** *** ********** / government / ************ *******.

*******, *** **** ********* ******* ** ****** ** ** *** increased ********** **** ********* *********** ** *** ***** *********. ************, Tyco *************, *** ******* ************, ******** **** **** ***** ********** but **** **** *** ******** ** ***.

*** *******, *****'* ********** **** *** *** ************* *** **** ****** **** ** ****'* ******** ********. **** are *** *** **** ***** ** *****:

  • ***** ******* ** ********, ** ****** **** **** *** ***** 5% ****** **** ****
  • ** *** $** *******, **** **% ** **** ***** **** products - $*.* *******
  • ** *** $*.* ******* ** ********, **% ***** **** ******** - ~$*** *******
  • ******** *******'* ****** ******* ** $*** ******* ** ***** ******* video, ****** *******, ***.
  • **** **% ** ******* *** **** ***** ** ****** ** come **** ******* ************ *** *******

*******, ****'* *** *** ***** **** *** **** *** ******** professionals:

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