ACHRNEWS

Aug. 8, 2006: Schneider Electric Completes Acquisition of Invensys Building Systems

August 8, 2006
BOSTON - Schneider Electric, parent company of TAC, has announced the completion of the acquisition of Invensys Building Systems (IBS), a division of Invensys Controls with operations in North America and Asia. IBS will merge with TAC, a leader in building automation, security systems, and energy solutions. This follows the merger with Invensys ABS EMEA in 2005; revenues for the combined company are forecasted to reach approximately $1.3 billion in 2006.

According to Schneider Electric, the combination of TAC and IBS will have a positive impact on customers, who will benefit from:

  • Evolving product lines with integrated, IP-based open platforms;

  • Complete building solutions that include HVAC, security, field devices, fire and safety, lighting control, machine automation, and power monitoring;

  • Sales and service offices in 500 locations across 80 countries; and

  • Lifecycle building services including both traditional and extended services.

    "This acquisition is a key part of Schneider and TAC's growth strategy, and the combination of TAC and IBS brings a formidable player to the market," said Arne Frank, chairman and chief executive officer of TAC. "The merger expands TAC's distribution capability in North America and Asia, and takes the Schneider Electric building automation platform to a new scale. We also believe IBS's installed base, independent field offices, customer relationships, product portfolio, employees, and core competencies bring important value to TAC."

    In addition, the company said, the acquisition of IBS expands TAC into markets such as refrigeration, original equipment manufacturing, and wholesale. TAC will also offer additional branded and manufactured lines of controllers, peripherals and field devices, and security products providing a competitive, complete solution portfolio for its customers.

    "IBS has more than 100 years of experience in the design, manufacture, and installation of heating, ventilating, and air conditioning control products and systems and, like TAC, is a leading provider of open, integrated building automation solutions and services," said David Gill, vice president and general manager of IBS. "Moving forward, TAC will continue a product strategy that supports open integrated systems, backward compatibility, future adaptability, simplicity of engineering and operation, innovation, and a platform for extended services."

    IBS offers an extensive line of building management systems, controls, and components, including valves, actuation devices, sensors, interfaces, and the applications that link these products and other building systems together. IBS products that now will be offered by TAC include the product names Barber-Colman, Com-Trol, Crysalis, Erie, DuraDrive, EconoDrive, and more.

    Publication date: 08/07/2006