In a deal valued at $2 billion, Tyco International Ltd. has agreed to purchase Brink’s Home Security Holdings Inc., its top competitor in the residential and commercial security systems sector. Brink’s, which operates as Broadview Security, will merge with Tyco’s security business under the ADT brand. The combined company is expected to have about 8.3 million customers, or 26 percent of the current market, according to The Wall Street Journal.
The deal is Tyco’s largest since a 2002 accounting fraud scandal that sent its stock tumbling and spurred the division of the company into three separate entities. The company also produces electronics and medical supplies. With 7 million subscribers, Tyco’s revenues topped $17.2 billion last year.
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