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32 suppliers www.securitysystemsnews.com aUgUST 2013 SECURITY SYSTEMS NEWS Ingersoll Rand names CEO, spinoff debt and help pay expenses for the new business. relationships we have with customers and the team "[The new logo]represents the collaborative longThe company said in a news release that it plans to of experts we have around the world for this new term relationships we have with customers and the sell $1.55 billion in debt. Ingersoll Rand is offering company." team of experts we have around the world for this the bonds "at bargain prices," according to a news Ingersoll Rand announced the name in a filing report from Reuters. new company." with the U.S. Securities and Exchange Commission. Ingersoll Rand said in the release that the company Allegion will spin off before the end of this year. planned to use the proceeds from the notes in three —Misty Zelent, Ingersoll Rand Zelent said she had no further details on when the ways: to redeem 6 percent senior notes with an and general counsel. spinoff would occur, but that when it does take aggregate principal of $600 million due this year; to Five directors will serve on Allegion's board with Petratis: redeem $655 million in 9.5 percent senior notes due in place, "Allegion will be a stand-alone public company David B. Burritt, former VP and CFO of Caterpillar Inc., 2014; "and/or to fund expenses related to our previously separate from Ingersoll Rand." Allegion expects to list its shares on the New York who will chair the Audit Committee; Michael J. Chesser, announced spinoff of our commercial and residential former chairman and CEO of Great Plains Energy Inc., who security businesses." Stock Exchange and use the ticker symbol ALLE. It will be an Irish company, with its North American will be chairman of the Compensation Committee; Carla Reuters noted that "the spinoff removes some of the corporate office in Carmel, Ind., according to the release. Cico, former CEO of Rivoli SPA and Ambrosetti Consulting; legacy company's best high-margin businesses, which It will employ about 7,600 people in 35 countries, Kirk S. Hachigian, former chairman, president and CEO account for about 14 percent of revenue." It said the original including 20 production and distribution facilities of Cooper Industries, who will be the board's lead director Ingersoll Rand would focus primarily on commercial and or non-executive chairman; and Luc Oursel, chairman, residential heating, ventilation and air-conditioning systems around the world. In April, Ingersoll Rand announced that Patrick president and CEO of Areva SA. manufacturing. In a separate announcement on June 17, Ingersoll Rand Shannon would serve as senior VP and CFO of the new The remaining IR business will total about $12 security spinoff and Barbara Santoro would serve as SVP said it is selling senior notes in a private offering to refnance billion. SSn Continued from page 1 Tyco to buy Exacq HID Global gets new patent Continued from page 1 Technology expected to be used in near future Exacq develops open-architecture video management systems and has been one of the fastest-growing VMS providers and security companies in recent years. Its products work for "small single camera applications to large, integrated systems with thousands of cameras." Asked his opinion of the deal, Jeff Kessler, Imperial Capital managing director, told Security Systems News that one appeal of the Exacq product is its "fexibility toward a fuller video solution. This deal could beneft larger and independent integrators who require easier video interoperability and, of course, Tyco Integrated Security as well." SSn Continued from page 31 in an NFC-enabled phone, Hulusi added. This additional authentication step will increase speed, security and privacy. The gesture-based passwords can be used to "unlock apps as well as to lock and unlock a door, similar to the way a mechanical key is used to lock and unlock a door. Additionally, it can allow the user to secretly signal that he is using his card or phone to gain access, but is under duress," the company statement explained. "If you add a gesture to a wireless connection, it gives you a lot of control over how you interact with a wireless sensor," Hulusi said. This technology feeds into the notion of "duality," something HID has been talking about for a while, where the "smart card or smartphone you have in your pocket is more Tam Hulusi powerful than the reader on the other side of the door." This kind of technology, while unique, is relatively simple, and Hulusi expects to see it in practice in the near future. SSn IControl fles suit Continued from page 31 years, Alarm.com has pioneered the creation of interactive and connected home products and services, and continues to lead the market with new and novel technologies. We will vigorously defend this history of innovation and our intellectual property. " The civil lawsuit was filed in U.S. District court for the Eastern District of Virginia, Alexandria Division. iControl is based here; Alarm.com is based in Vienna, Va.; and FrontPoint is based in McLean, Va. All three companies are incorporated in Delaware. SSn NICE TOUCH Introducing an all new touchscreen keypad. This ultra thin 5" scrollable touch display with animated icons, local weather & the simplest one-touch arming your customers have ever seen. It's backwards compatible with existing DMP panels, features your company logo and nicely priced, SSN has the news YOU need! Don't delay...get your FREE subscription today! www.ssnsubscribe.com starting at $124 with built in Prox. Learn more at dmp.com/touchscreen ® One more reason to choose DMP. l 877-725-1114 dmp.com