Tyco Buys Sensormatic Franchisee For $90 Million

Forbes:

Tyco International Ltd. said Thursday it bought a franchisee of its Sensormatic anti-theft division for $90 million.

The sale includes the assets of Winner Security Services LLC, a franchisee of Sensormatic Electronics Corp. in Pennsylvania and Delaware.

Under the terms of the franchise, granted more than 40 years ago, Winner had the right to sell, install and service certain Sensormatic products and collect commissions in areas where it operated. Bermuda-based Tyco acquired Sensormatic in 2001.

Tyco shares fell 13 cents to $45.13 in after-hours trading. The stock rose 41 cents to $45.26 during the regular session.