History
Tyco International Ltd. was founded in 1960 by Arthur J. Rosenburg, Ph.D. who opened a research laboratory to conduct experimental work for the U.S. government. The business was incorporated as Tyco Laboratories in 1962, and its focus turned to high-tech materials science and energy conversion products for the commercial sector. In 1964, the company went public, and in 1965 it began to acquire other companies to fill gaps in its development and distribution network. As a result, Tyco's thrust changed to manufacturing industrial products.
1960
Tyco, Inc. is formed as an investment and holding company in Waltham, Massachusetts with two primary holdings: Tyco Semiconductor and the Materials Research Laboratory. The business focused on applications in the fields of solid-state science and energy conversion.
1962
Materials Research Laboratory and Tyco Semiconductor merge. The business turns its focus from U.S. government research contracts to commercial applications of its work. Tyco begins to look for acquisitions to develop product, manufacturing and marketing capabilities.
1964
Tyco becomes a publicly owned company.
1965
Mule Battery Products becomes Tyco's first acquisition. Tyco Inc. changes its name to Tyco Laboratories.
1973 - 2001: Growth through Acquisitions
In 1974, Tyco's stock is listed on the New York Stock Exchange. Over the next three decades, Tyco becomes a much bigger and more diverse company with annual revenues of more than $500 million and a net worth of nearly $140 million. Much of this growth is achieved through acquisitions, including:
- 1974
Simplex Technologies, manufacturers of undersea fiber optic telecommunications cable
- 1976
Grinnell Fire Protection Systems, fire sprinkler systems manufacturer and contractor
- 1986
Grinnell Corporation, manufacturers and distributors of industrial/construction products
- 1988
Allied Tube and Conduit, steel pipe and related tubular products manufacturer
- 1989
Mueller Company, manufacturers of water and gas flow control products
- 1991
Wormald International Ltd., manufacturers, contractors and suppliers of fire protection systems and products
- 1995
- Tectron Tube, manufacturers of pipe and tubular products
- Unistrut, manufacturers of metal framing products and services
- 1996
- Watts Waterworks Businesses, manufacturers of valves, hydrants, and fittings used primarily in water utility, wastewater treatment and power generation markets
- Sempell, a manufacturing and servicer of specialty valves used in industrial and power generation application
- 1997
- American Pipe & Tube, a manufacturer of steel pipe, tubing for the fire protection and fence markets, and steel studs/tresses for the residential and commercial construction markets
- ADT, a leading provider of electronic security systems
- Keystone, a leading designer and manufacturer of industrial valves, actuators and accessories
- 1998
Wells Fargo Alarm, EntAlarmingmguard, and Holmes Protection Group, providers of electronic security services, including intrusion, fire detection and monitoring, and CCTV and access control
- 1999
- Raychem, a leading international designer, manufacturer and distributor of high-performance electronic products for OEM businesses and a broad range of specialized applications
- Glynwed, producer of steel tubing, steel electrical conduit and similar products
- Central Sprinkler, which designs, manufactures, and distributes a complete line of fire sprinklers, valves and accessories, PVC pipe and fittings
- 2000
AFC Cable, a leader in the design, manufacture and supply of pre-wired armor cable, flexible conduit, modular wiring systems and electrical fittings
- 2001
- SecurityLink and Southern California Edison fire and security services
- Sensormatic, the world's leading retail security firm. Acquisition enables Tyco to offer a complete security package to retailers around the globe
- Simplex Time Recorder. Acquisition makes Tyco the largest fire alarm company in the world
- Scott Technologies, a leading designer and manufacturer of high-performance respiratory protection systems, gas detection instruments and fire-fighting products for fire-fighting, industrial, aviation and government customers
2005
- Plastics, Adhesives and Ludlow Coated Products businesses sold to an affiliate of the private investment firm Apollo Management, L.P.
- Tyco publishes its first annual Environment, Health and Safety (EHS) report, part of its ongoing commitment to develop EHS excellence and best practices across the company.
2006
Tyco Board of Directors approves a plan to separate the company’s portfolio of businesses into three separate, publicly traded companies: Tyco Healthcare (now known as Covidien),Tyco Electronics and Tyco International.
2007
Tyco completes its separation into three independent companies on June 29. The new Tyco International is composed of five business segments: ADT Worldwide, Fire Protection Services, Safety Products, Flow Control and Electrical & Metal Products.
2008
- Infrastructure Services business sold to AECOM technology Corporation
- Nippon Dry-Chemical Co. Ltd., sold to a subsidiary of Japan-based investment bank Daiwa Securities SMBC Co. Ltd.
- ADT acquires FirstService Security to strengthen the systems integration capability in its electronic security platform.
- Ancon Building Products business sold to to CRH plc.
- Tyco acquires Sensormatic Security Corporation, the last major Sensormatic® franchise
- Tyco acquires Vue Technology, Inc., a leading provider of radio frequency identification technology, to strengthen the technology portfolio offered to retailers through its Sensormatic business
- Tyco International proposes change in place of incorporation from Bermuda to Switzerland
2009
- Tyco Board of Directors unanimously approves moving the company’s place of incorporation from Bermuda to Switzerland
- Tyco's flow control business acquires Hiter Industria e Comercio de Controle Termo-Hidraulico Ltda (Hiter), a leading privately held Brazilian valve manufacturer, and takes full ownership of an existing joint venture with Valvulas Crosby Industria e Comercio Ltda.
2010
- Tyco announces a definitive agreement to acquire Brink's Home Security Holdings, now operating as Broadview Security
- Tyco announces intention to spin off its electrical and metal products business
- Tyco completes acquisition of Broadview Security
- Tyco announces definitive agreement to divest European Waterworks business
- Tyco completes sale of European Waterworks business
- Tyco announces agreement to sell majority interest in its electrical and metal products business to private equity firm Clayton, Dubilier & Rice
- Tyco completes sale of majority interest in electrical and metal products business to Clayton, Dubilier & Rice
2011
- Tyco announces agreement to acquire Signature Security
- Tyco announces agreement to acquire a 75% equity stake in privately held KEF Holdings Ltd.
- Tyco completes acquisition of Signature Security
- Tyco completes acquisition of a 75% equity stake in KEF Holdings Ltd.
- Tyco announces agreement to acquire privately held Chemguard, Inc.
- Tyco completes acquisition of Chemguard, Inc.
- Tyco announces agreement to acquire Visonic Ltd.
- Tyco announces plan to separate into three independent, publicly traded companies
- Tyco completes acquisition of Visonic Ltd.
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