Melrose Industries Plc, a UK-based investment firm has announced that is has acquired Nortek, Inc., a global company with brands including 2GIG, NuTone, and Elan. It is unclear at this time what direction this has for Nortek Security & Control, which specializes in residential security and home automation products and services.
Johnson Controls (NYSE: JCI) and Tyco International (NYSE: TYC) announced the senior executive team that will lead the combined company following the close of their planned merger, which is expected on or around Oct. 1, 2016. As previously announced, at the effective time of the merger, Johnson Controls chairman and chief executive officer Alex Molinaroli will be appointed to the same role for the combined company. Tyco chief executive officer George Oliver will serve as president and chief operating officer, with responsibility for the operating businesses and leading the integration, and will become a director on the new company’s board. Mr. Molinaroli will serve as chairman and chief executive officer for 18 months after the closing. At that time, Mr. Oliver will become chief executive officer and Mr. Molinaroli will become executive chair for one year, after which Mr. Oliver will become chairman and chief executive officer.
In September Vicon Industries Inc. and IQinVision revealed that its previously announced merger had been approved, and that its board of directors had appointed Eric Fullerton, formerly chief sales and marketing officer of Milestone Systems A/S, as the company’s new CEO and president. Fullerton, stated the combined businesses will be called Vicon, with headquarters in Edgewood, N.Y.
Vicon Industries, Inc. (VII: NYSE-MKT) (“Vicon”), a designer and producer of video security and surveillance systems, said that it has completed the previously announced merger with IQinVision, Inc. (“IQinVision”), a designer and producer of high performance HD/megapixel IP cameras. The merger creates a global market leader of integrated solutions to the video security market.