EXETER, N.H. (TheStreet.com) — Tyco International, a diversified manufacturing company with divisions in telecommunications, medical products, and electrical components, said today that it has agreed to acquire Westminster, Mass.-based Simplex Time Recorder for $1.15 billion in cash.
Tyco said it expects the acquisition will boost its earnings per share and generate positive cash flows. Simplex, which manufactures and installs fire and security products and communications systems, is expected to report fiscal year 2000 revenues of about $870 million.
The transaction, contingent upon customary regulatory review, is expected to close during January 2001.
