Building control manufacturer Johnson Controls, a recent entrant to the energy storage market, has announced a US$20 billion takeover of security and fire protection firm Tyco as it looks to consolidate its offering in the smart building sector.
Last year the company announced that it was entering the distributed energy sector and was also linked with a bid for battery and charger manufacturer EnerSys. The company was already selling demand management services, which are now paired with storage to enable clients to regulate frequency and adjust demand.
The security offerings of Tyco will mean that the new company can offer HVAC, energy management, security, fire and controls for residential, commercial and industrial buildings.
A statement by Johnson Controls claimed that “the combined company will have one of the largest energy storage platforms with capabilities including traditional lead acid as well as advanced lithium ion battery technology serving the global energy storage market”.
"We believe this transaction will allow us to better capture opportunities created by increased connectivity in homes, buildings and cities,” said George R. Oliver, CEO, Tyco. “Joining forces with Johnson Controls pairs our leading established businesses with robust innovation pipelines and extensive global footprints to deliver greater value to customers, shareholders and employees of both companies,” added Oliver.