business news / acquisitions The Acquisitions Calendar for February to April 2019 February Also in February, ADT Inc. acquired Lifeshield, LLC, a pioneer in advanced wireless home security systems, in a transaction valued at approximately $25 million. John Owens will continue in his current capacity leading the Lifeshield team. Founded in 2004, Lifeshield was the first to bring a wireless DIY home security offering to the residential market. Over the past 15 years, Lifeshield has further redefined residential home security, improving interactivity, advancing video capabilities and enhancing the overall user experience. The addition of Lifeshield’s innovative technology to ADT’s security and automation solutions and expertise increases ADT’s ability to address the approximately 80% of U.S. households who do not have professionally installed and monitored home security. “We are confident that Lifeshield’s capabilities and approach, combined with the brand and scale of ADT, will create an opportunity for us to offer our services to a broader cross-section of U.S. households. Together with Lifeshield we will be positioned to offer more solutions to a broader base of customers and create increased value for our shareholders as we seek to grow profitability through expanded, yet focused offerings,” comments ADT President and CEO Jim DeVries. March In March Convergint Technologies announced its acquisition of North Carolina-based Security Solutions & Management systems. SS&M’s expertise in military and commercial security solutions includes physical security information management systems that integrate video surveillance, access control, building management, identity management, and IT security. The acquisition adds to Convergint’s expanding presence in the Carolinas, with expertise within the government, healthcare, and retail security fields. Flir Systems, Inc. completed the acquisition of Endeavor Robotic Holdings, Inc., a developer of battle-tested, tactical unmanned ground vehicles (UGVs) for the global military, public safety, and critical infrastructure markets, from Arlington Capital Partners for $382 million in cash. Based outside Boston and formerly known as Irobot Defense & Security, Endeavor has shipped more than 7,000 UGVs to customers in over 55 countries. Endeavor’s highly-mobile and easy to operate ground robots utilise advanced sensing and actuation in providing explosive ordnance disposal, reconnaissance, inspection, and hazardous materi- Endeavor has shipped more than 7,000 UGVs to customers in over 55 countries. als support for troops, police, and industrial users at stand-off range. Endeavor is one of the largest UGV providers to the United States (U.S.) Department of Defense (DoD), and a key supplier of unmanned systems for the accelerating modernisation of global military and law enforcement operational assets. “With the addition of Endeavor, Flir becomes a leading provider of unmanned aerial and ground solutions to support the needs of warfighters, and public safety and critical infrastructure professionals,” states Jim Cannon, President and CEO of Flir Systems. Also this month, Assa Abloy announced it was acquiring a majority stake in Agta Record. As a 39 percent shareholder in the Swiss company Agta Record AG, Assa Abloy has signed an agreement with the shareholders of Agta Finance to indirectly acquire their 54 percent shareholding in Agta Record. The purchase price for the acquisition amounts is approximately EUR 502 million, equivalent to a purchase price per Agta Record share of EUR 70. After the completion of the acquisition, Assa Abloy will own approximately 93 percent of the share capital and voting rights of the company and will launch a public tender offer for the remaining outstanding shares at the same purchase price per Agta Record share as for the acquisition. Agta Record is a well-established manufacturer and service organisation dedicated to automatic pedestrian entrance systems. The company is headquartered in Fehraltorf, Switzerland and has 2,600 employees. For 2018 agta record´s sales amounted to EUR 374.4 million. The Company’s extensive expertise covers the design, production, marketing, installation and maintenance of a large range of automatic doors. Agta Record sells its products and services across the globe and is directly present with subsidiaries in 17 countries. Agta Record is listed on Euronext Paris, foreign stocks. The acquisition is conditional upon regulatory approval and is expected to close during the fourth quarter of 2019. Schneider Electric in negotiations on the sale of Pelco Rueil-Malmaison (France) Schneider Electric has entered exclusive negotiations with Transom Capital Group, a U.S.-based private equity firm, regarding the sale of its Pelco business unit. Pelco is a global specialist in the design, development, and delivery of trusted end-to-end video surveillance solutions and services including cameras, recording and management systems software. It generated revenues of €169m in 2018 and employs 478 people. It is currently reported under the Energy Management business of Schneider Electric. The proposed transaction follows the strategic review announced in Schneider Electric’s 2018 results on assets totalling €1.52 billion of revenues, as the Group continues to focus its activities on core energy management and industrial automation offerings. The proposed transaction is subject to the consultation of the relevant work councils and would be finalized upon the successful completion of this process. Based on current terms, it would trigger a non- cash loss on disposal of up to €250m, the net impact of which would be excluded from the net income used for dividend calculation. The transaction would be accretive by c.+10bps to the Group adjusted EBITA margin on a full year basis. Security News Every Day – www. securityworldmarket.com 22 • d ete ktor internati onal