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Vanderbilt Industries agrees to acquire Siemens’ Security Product Business

24 October 2014

• Move consolidates company’s fast growing presence inglobal security systems industry
• Acquisition will significantly boost  Vanderbilt’s market  position  in  the  European  security systems market  througha wider and more comprehensive range of products  and solutions
• Siemens’  Security  Products  (SP)  complements  existing  Vanderbilt  business  portfolio  as  a  leading  supplier  with widely recognized brands and long-term relationships with pre-eminent customers

 Vanderbilt Industries, a global leader providing  state-of-the-art  security  systems,  announced  today  it  has  entered  into  an  agreement  to  acquire Siemens’ Security Products business, part of the Siemens’ Building Technologies Division. The business will be renamed  Vanderbilt  International.  Security  industry  veteran  Joseph  J.  Grillo  will  be Managing  Director,  workingfrom the new operational headquarters in Germany.

Joseph  Grillo  stated that  this transaction  will  considerably  expand  Vanderbilt’s  presence  in  the  security  industry  by broadening the company’s competitive position in a highly fragmented market with great growth potential.

“The acquisition of Siemens’ Security Products, which fits  our  corporate strategy perfectly, matches Vanderbilt’s solidfoundation and  strong legacy built  from  nearly three decades in the security industry,” said Joseph Grillo.

“Vanderbilt  saw an opportunity  to expand its product offering and geographic market coverage. The addition of  SP  represents significant value potential with its  established installed base of customers and loyal resellers. The market trend is for integrated security management systems and more open solutions from trusted suppliers. SP clearlyprovides a vehicle to offer these solutions to a broader customer base,” Grillo added.

Siemens’  SP  consists  of  products  in  the  access  control,  intrusion  alarm,  and  video  surveillance  categories,  which complement  Vanderbilt  Industries’  fully  integrated  product  offerings.  The  acquisition  includes  such  well-known  and established brands as Bewator and Cotag in the access control segment and Alarmcom and Europlex in the intrusion alarm space.

Financial details of the transaction were not released. The transaction is subject to customary closing conditions. The closing of the transaction is expected to occur by the end of the first quarter of 2015.

Marie Agaliotou