Invensys Building Systems merges with TAC
The combination of TAC and IBS will have a positive impact on their 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 and sales and service offices in 500 locations across 80 countries 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."