Ingersoll-Rand Acquires Security One Systems, A Security-Systems Integration Firm
Hamilton, Bermuda, May 12, 2005--Ingersoll-Rand Company Limited (NYSE:IR), a leading diversified industrial firm, today announced that it has acquired Security One Systems, a security-systems integrator based in Florida. Terms of the transaction were not disclosed.
Security One Systems provides turnkey security design solutions, including access-control, closed-circuit TV, video surveillance and alarm monitoring, with strong presence in communications, financial services, government and healthcare markets. The company, founded in 1990, is the largest independent security-systems integrator in the southeast United States, operating six branches in Florida.
"Security One's strong track record of systems integration, service and support for complex organizations, coupled with IR's strong distribution network and security-technologies product offering, will enhance our ability to provide customers with a complete solution for managing their security needs," said Herbert L. Henkel, chairman, president, and chief executive officer. "In addition, the acquisition of Security One expands our solutions footprint in the southeast United States and continues IR's strategy to pursue recurring revenues through services-related business."
Security One will become part of Ingersoll-Rand's Security Technologies Sector, which is a leading provider of mechanical locks, architectural hardware, electronic and biometric access-control systems and other technologies and services for global security markets.
Ingersoll-Rand is a global provider of products, services, and integrated solutions to industries as diverse as transportation, manufacturing, construction, and agriculture. The company brings to bear a 100-year-old heritage of technological innovation to help companies be more productive, efficient, and innovative. Examples include cryogenic refrigeration that preserves agricultural produce worldwide, biometric security systems for airports, corporations, and government facilities, the efficient harnessing of air to drive tools and factories, and versatile, compact vehicles for construction and efficient movement of people and goods. In every line of business, Ingersoll-Rand enables companies and their customers to turn work into progress.
This news release includes "forward-looking statements" that involve risks, uncertainties and changes in circumstances, which may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. Political, economic, climatic, currency, tax, regulatory, technological, competitive and other factors could cause actual results to differ materially from those anticipated in the forward-looking statements. Additional information regarding these risk factors and uncertainties is detailed from time to time in the company's SEC filings, including but not limited to its report on Form 10-K for the year ended December 31, 2004.
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