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Tyco buys Simplex
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December 4, 2000: 1:18 p.m. ET
Fire and security products firm acquired for $1.15B cash
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NEW YORK (CNNfn) - Tyco International Ltd. agreed Monday to acquire Simplex Time Recorder Co. for $1.15 billion cash in a move to expand Tyco's security product offerings.
The transaction is expected to close in January and will immediately add to Tyco's earnings per share, the company said.
Westminster, Mass.-based Simplex makes fire and security products and expects to report 2000 revenue of $870 million. Bermuda-based Tyco (TYC: Research, Estimates), a diversified manufacturing and services company with businesses including electrical components, disposable medical products, fire protection and underwater telecommunications.
 The purchase of privately held Simplex follows Tyco's $2.5 billion acquisition Nov. 13 of Lucent Power Systems, a unit of telecom equipment provider Lucent Technologies.
Simplex will be merged into Tyco's fire and security services unit, which makes and designs electronic security systems.
"The combined strength of Simplex with Tyco's Fire & Security Services global sales and service organization will allow Tyco to leverage its international infrastructure to enhance penetration of Simplex products and services in key geographic markets," Tyco CEO Dennis Kozlowski said.
Tyco shares gained 31 cents to $54.62 in early afternoon trading Monday. 
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Tyco
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