Tyco to Buy Simplex Alarm System Maker

Tyco International Ltd., maker of ADT-brand alarm systems, agreed to buy closely held Simplex Time Recorder Co. for $1.15 billion to bolster its fire- and security-systems businesses. Westminster, Mass.-based Simplex installs, monitors and services fire and burglar systems. The company expects sales of $870 million this year, Tyco said. The deal is just the latest for acquisition-hungry Tyco, which has expanded its revenue base to more than $30 billion from about $5 billion just four years ago. Shares of Tyco, which is based in Bermuda and run from offices in Exeter, N.H., rose 63 cents to close at $54.94 in NYSE trading.