The businesses of Johnson Controls and Tyco will be combined under Tyco International plc, which will be renamed Johnson Controls plc.
Johnson Controls, Milwaukee, Wis., and Tyco, Princeton, N.J., entered into a definitive merger agreement under which Johnson Controls, a global multi-industrial company, will combine with Tyco, a global fire and security provider.
"The proposed combination of Johnson Controls and Tyco represents the next phase of our transformation to become a leading global multi-industrial company," says Alex Molinaroli, chairman and CEO, Johnson Controls. "With its world-class fire and security businesses, Tyco aligns with and enhances the Johnson Controls buildings platform and further positions all of our businesses for global growth. Through this transaction, we will also expand our ability to further invest globally, develop new innovative solutions for customers and return capital to shareholders."