Last summer, after Johnson Controls divested itself of its automotive business, the company put a new strategy in place. That strategy commenced with the merger of Tyco, which will bring together best-in-class product, technology and service capabilities across controls, fire, security, HVAC, power solutions and energy storage to serve various end markets, said Johnson Controls' release.
The combination of the Tyco International and Johnson Controls buildings platforms creates immediate opportunities for near-term growth through cross-selling complementary branch and channel networks and by expanding global reach for established businesses. The new company will also benefit by combining innovation capabilities and pipelines involving new products, advanced solutions for smart buildings and cities, value-added services driven by advanced data, analytics and connectivity between buildings, and energy storage through infrastructure integration. The deal, valued at $14.4 billion, will result in a company with more than $30 billion in sales annually.