Boston, MA 04/29/2014 (wallstreetpr) – Tyco International Ltd. (NYSE: TYC) had announced on April 15 that it had joined the Industrial Internet Consortium (IIC), a non-profit organization that had been launched in March with the intention of catalyzing and coordinating the mandates of the Industrial Internet.
The Backbone of the Industrial Internet
George Oliver, Tyco’s CEO, stated that they were excited to be an early associate of this far-sighted group.And that as a forerunner in the fire protection and security sector, with technology and perspectives that had a scope to be used beyond that space, they look forward to contributing to the growth of the framework that would eventually assist in shaping the Industrial Internet and power more exhaustive, integrated solutions for customers.
Dr. Richard Soley, Executive Director of the Industrial Internet Consortium stated that theywere thrilled to have Tyco join them and that with their experience in security – given the importance of security to the growth and sustenance of the Industrial Internet – Tyco International Ltd. (NYSE: TYC)’s engagement would certainly be beneficial tothe development of security frameworks.
Tyco Draws Potential Buyers To South Korea
The body of M&A activity in South Korea had indicated a strong start to the year, rising 18% to date and subjugated by a spate of private equity deal-making.
The $1.93 billion sale in March, of Tyco International Ltd. (NYSE: TYC)’s South Korean home security venture to the Carlyle Group was the latest indication that the momentum of private equity buy-outs that had started picking up in 2012 has been moving along steadily.
The M&A market in South Korea has historically offered up large targets with small windows of opportunity as well as cases of xenophobic sentiments from regulators towards a takeover in the past.
But the activity is picking up again, aided by political and economic stability, a stable domestic stock market system and a string of targets being whipped out by foreign and local organizations for buyouts.
The Carlyle Group’s recent deal with Tyco emphasizes upon the perspective that the foreign buyout firms are feeling more at home in South Korea after years of apprehension. The country had fallen out of favor in the mid-2000s, due to encounters with courts and unions, underscored by Lone Star Funds’ cycles of front-page problems regarding selling their stake in the Korea Exchange Bank.
