BOSTON - Schneider Electric, parent company of TAC, completed its acquisition of Invensys Building Systems (IBS), a division of Invensys Controls with operations in North America and Asia. Invensys is the parent company for such HVACR companies and product brand names as Robertshaw, Erie, Barber-Coleman, and ComTrol. IBS will merge with TAC, a building automation, security systems, and energy solutions company. 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.

"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 CEO 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' installed base, independent field offices, customer relationships, product portfolio, employees, and core competencies bring important value to TAC."

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.