Pittway Corp. to Purchase Maker of Closed-Circuit TV Systems
Undated (AP) _ Pittway Corp., a leading maker of burglar and fire alarm equipment, said Monday it has agreed to acquire an American Trading and Production Corp. unit that makes closed-circuit television systems.
Terms weren’t disclosed.
Chicago-based Pittway, which expects sales of $500 million this year, said the deal should be completed by the end of this year.
Javelin Electronics Division, the unit of Baltimore-based American Trading, makes closed-circuit systems based on personal computers for security, correctional and traffic-management markets.
Pittway said the Torrance, Calif.-based unit will be the core operation of its new closed-circuit business.