Access Control
& Security Systems

GE Industrial Systems, a division of General Electric Company has signed an agreement to acquire Interlogix Inc., Austin Texas. The transaction, which is subject to government approvals and other customary conditions, is expected to close in the first quarter of 2002.

GE has agreed to pay the equivalent of $38.86 for each Interlogix share consisting of 50% cash and 50% GE stock. A stockholder, who holds approximately 80% of the current outstanding shares of Interlogix, has concurrently signed an agreement to tender its shares in favor of the transaction.

Interlogix manufactures electronic security products and systems for commercial, industrial and residential use. Its primary business segments are security and lifesafety, enterprise technologies and key management.

``Interlogix is a strong global company that will provide us with leading-edge technology in the security arena, offering us an attractive new platform to enhance our continued growth. These innovative technologies will be particularly important as the demand for security products and systems continues to increase,'' says Lloyd Trotter, president and CEO of GE Industrial Systems. ``In addition, these products will complement many of the industrial components already manufactured by our business, allowing us to better serve our customers with a broader, more diversified portfolio of products, systems and services to meet their needs.''

This month in Access Control

• Opening Up About Door Closers
• An Enterprise Approach
• The Framework For Open Systems
• On A Higher Plane
• More from April's issue