The unit will be rebranded Vanderbilt International GmbH, the New-Jersey based acquirer announced on its website.
Siemens, which last year made the most disposals of any European industrial company, appointed the Rothschild investment bank in January 2013 to scope out a potential sale.
Dispensing with its access control, intrusion alarm and video surveillance ranges the German giant has taken another major step towards CEO Joe Kaeser’s avowed aim to focus on “electrification, automation and digitalisation.”
Europe’s largest engineering firm retains a strong presence in the building automation and fire-safety markets, the latter most notably through its Cerberus Pro system.
Vanderbilt’s acquisition comes two years after it snapped up the bright blue, SMS and video product range from the Schlage division of Ingersoll Rand.
Already a major player in the North American access control market, its acquisition of a prestige European brand gives it a foothold in the EU surveillance, alarm and access control markets.
Siemens is not the first German security company Vanderbilt has worked with, having previously integrated its solutions with ASSA Abloy’s Aperio and Wi-Fi wireless locks.
Vanderbilt is active in the banking, education, healthcare, military and retail verticals.
“Vanderbilt saw an opportunity to expand its product offering and geographic market coverage,” said Joseph Grillo, CEO of Vanderbilt owners Acre LLC, in a statement. “The market trend is for integrated security management systems and more open solutions from trusted suppliers.”
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