Tyco to Reinforce Technological and IoT Capabilities
Tyco International Ltd. (TYC) announced several steps to strengthen its technological prowess. The security and protection services provider launched a new software solutions platform and made a strategic investment in home automation solutions company Qolsys.
The company also appointed Daryll T. Fogal as its Chief Technology Officer.
“Tyco On” Platform
The newly launched “Tyco On” is an integrated platform that strengthens security systems by providing a series of software-enabled Internet of Things (IoT) capabilities. It can also leverage data and apply advanced analytics to reveal insights that can drive transformative operational improvement for customers.
“Tyco On” further augments the company’s proficiency in systems integration and services. It promises great potential to unlock the value of data collected from Tyco’s huge installed base of systems and devices. The platform can then deliver smart services to vertical markets ranging from healthcare to education to petro-chemical operations with the help of advanced analytics.
The architecture supports both cloud-based and on-premises deployment, powering users to manage the systems that can access the physical sensor data and enhancing system reliability and responsiveness.
Qolsys Stake
Tyco reinforced its IoT presence with a strategic investment in San Jose, CA-based home automation firm Qolsys. Qolsys came into the spotlight with its revolutionary IQ panel that stretched the limits of "all-in-one" home automation systems.
The panel offers a highly sophisticated, connected home control platform, which supports home control, residential security, energy management, life safety and several other functions. Leading technology providers, including Google Inc. (GOOG), Foxconn Technology Group and Alarm.com support the panel.
The Qolsys partnership will expand Tyco’s portfolio of intrusion security offerings and enable it to explore new intelligent services under the IoT concept.
Moving Forward
Looking ahead, the company has aggressive expansion plans for the future as it leverages its competitive position and explores new growth opportunities. Furthermore, the company complements its organic growth strategies with accretive acquisitions and strategic investments The “Tyco On” smart services platform lies at the crux of Tyco’s IoT penetration strategy, and the Qolsys partnership will further strengthen the company’s foothold in the IoT market.
Tyco currently sports a Zacks Rank #3 (Hold). Other notable companies in the industry include Federal Signal Corp. (FSS) and Noble Group Ltd. (NOBGY), both holding a Zacks Rank #1 (Strong Buy).
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