Tyco Enhances Technology and Internet of Things Capabilities with Appointment of Daryll T. Fogal as Chief Technology Officer, Launch of 'Tyco On' Smart Services Platform, Strategic Investment in Home Automation Innovator Qolsys
CORK, Ireland, Nov. 21, 2014 /PRNewswire/ -- Tyco International plc (NYSE: TYC) today announced that it has taken important steps to bolster its technology capabilities, appointing Daryll T. Fogal as Chief Technology Officer, launching its new "Tyco On" software solutions platform, and making a strategic investment in Qolsys, a provider of innovative home automation solutions.
Daryll T. Fogal Named Chief Technology Officer
As Tyco's Chief Technology Officer, Mr. Fogal will have global responsibility for the company's technology vision, strategy, capabilities and operations to support the development of products, services and solutions that meet the needs of customers ranging from multinational corporations to households. Most recently, he served as Chief Technology Officer and Vice President of Engineering for Eaton Corporation's Electrical Sector. Based in Princeton, N.J., Mr. Fogal will report directly to George Oliver, Tyco's Chief Executive Officer, and will serve on Tyco's Management Team.
"Technology is the key to advancing our leadership position in the industry, so we are pleased to have a technology leader of Daryll's caliber join us in this critical role," said Mr. Oliver. "Daryll's extensive experience leading large-scale engineering and R&D organizations, his previous responsibility for developing an Internet of Things strategy and execution model, and his strong general management and operations mindset will enable him to provide the strategic leadership necessary to achieve our growth and innovation vision."
Prior to joining Tyco, Mr. Fogal was responsible for the development of the product portfolio for Eaton's $13.6 billion Electrical business. Previously, he held senior technology, R&D program management and operations positions over a 15-year career with Honeywell, including Vice President of Engineering and Technology for the company's Building Solutions business from 2003 to 2011. Mr. Fogal holds B.A. Sc. and M.A. Sc. degrees in Chemical Engineering from Queen's University in Kingston, Ontario, Canada.
Tyco Reveals 'Tyco On' Smart Services Platform, the Core of its Internet of Things Strategy
The company also introduced Tyco On, its integrated data and smart services platform. Tyco On provides a set of software-enabled Internet of Things capabilities that enhance safety and security systems using open standards to connect a wide range of intelligent devices, systems and services, enabling customers to improve their operations.
Solutions enabled by Tyco On will address varying needs of multinational, small business and residential customers, ranging from efficiency to complex system integrations and intelligent operations. For example, Tyco On enables improved efficiency through a service application already in use in the company's Installation and Services business that allows a single technician to perform fire alarm testing. Using a mobile app, the technician can test detectors throughout a building and connect remotely to the system's fire panel, where a second technician would have been stationed in the past, to complete the procedure. In the future, this application will also offer immediate cloud-enabled access and storage of testing documentation, providing an overall more cost-effective solution that would appeal to a broad base of customers with standard needs.
Tyco On will also enable more complex, "smart" solutions that leverage data from varied devices and systems and apply advanced analytics to reveal insights that lead to better decisions, faster execution and transformational business outcomes for customers. Tyco has been delivering such solutions and outcomes for several years in its Retail Solutions business that serves some of the world's largest store chains. In over 4,000 retail locations, Tyco is helping retailers tie together data from RFID tags, video, electronic article surveillance and traffic sensors, transforming it into actionable intelligence through Tyco's TrueVUE software. With these insights, retailers are empowered to optimize their inventory management, deliver a more pleasant shopper experience, and maximize revenue across their operation.
"As the core of our Internet of Things strategy, Tyco On builds on our deep expertise in systems integration and services and our installed base of more than a billion sensors, tags, devices and systems around the world, and unlocks the value of this data with the power of analytics to deliver a range of smart services for multiple vertical markets, from healthcare and hospitality to petro-chemical operations to education and more," Mr. Oliver said.
In the next phases of development of Tyco On-enabled solutions, customers will see additional benefits, such as proactive alerts with contextual information, coordinated multi-system responses and an interactive and personalized experience for system owners, users and customers. As a result, Tyco's safety and security customers will find ways to gain additional competitive advantage while continuing to protect people and assets.
As these advanced solutions integrate additional systems and data into the Tyco On architecture, including third-party software, products, and services, protection of the data is a paramount consideration. Recognizing the importance of these mission-critical systems, Tyco has established security policies and protocols that protect the data. The Tyco On architecture also supports both cloud-based and on-premises deployment so that customers can control exactly what systems can access the physical sensor data, enhancing system reliability, responsiveness and integrity.
Tyco Makes Strategic Investment in Qolsys
The company also advanced its Internet of Things strategy with a strategic investment in Qolsys (www.qolsys.com), a San Jose, Calif.-based innovator that has extended the boundaries of "all-in-one" home automation with its IQ panel. The Android-based panel delivers the industry's most advanced, connected home control platform supporting life safety, residential security, home control, energy management and other functions, supported by best-in-class technology providers, including Google, Foxconn Technology Group and Alarm.com.
The IQ panel has a seven-inch touchscreen with a built-in panel camera, six built-in wireless radios with no external antennas, Z-Wave for home control devices, two-way voice, siren, an SD Card slot, 24-hour lithium-ion battery, and interactive services powered by Alarm.com. The groundbreaking panel's Dual-Path Connectivity enables communication over cellular and broadband WiFi channels enabling interactive services, adding redundancy to support reliability across all connected home services while making the solution more flexible.
"The partnership with Qolsys is exciting news for Tyco and further demonstrates our commitment to enabling new intelligent services via the Internet of Things," said Mike Ryan, President, Tyco Security Products. "This investment deepens our intrusion security portfolio offering so that we can continue to deliver the most innovative and intuitive solutions to our customers in the residential, commercial and service provider segments."
ABOUT TYCO
Tyco (NYSE: TYC) is the world's largest pure-play fire protection and security company. Tyco provides more than three million customers around the globe with the latest fire protection and security products and services. A company with $10+ billion in annual revenue, Tyco has over 57,000 employees in more than 900 locations across 50 countries serving various end markets, including commercial, institutional, governmental, retail, industrial, energy, residential and small business. For more information, visit www.tyco.com.
FORWARD-LOOKING STATEMENTS
This press release contains a number of forward-looking statements. In many cases forward-looking statements are identified by words, and variations of words, such as "anticipate", "estimate", "believe", "commit", "confident", "continue", "could", "intend", "may", "plan", "potential", "predict", "positioned", "should", "will", "expect", "objective", "projection", "forecast", "goal", "guidance", "outlook", "effort", "target", and other similar words. However, the absence of these words does not mean the statements are not forward-looking. Examples of forward-looking statements include, but are not limited to, revenue, operating income, earnings per share and other financial projections, statements regarding the health and growth prospects of the industries and end markets in which Tyco operates, the leadership, resources, potential, priorities, and opportunities for Tyco in the future, Tyco's credit profile, capital allocation priorities and other capital market related activities, and statements regarding Tyco's acquisition, divestiture, restructuring and other productivity initiatives. The forward-looking statements in this press release are based on current expectations and assumptions that are subject to risks and uncertainties, many of which are outside of our control, and could cause results to materially differ from expectations. Such risks and uncertainties include, but are not limited to: economic, business, competitive, technological or regulatory factors that adversely impact Tyco or the markets and industries in which it competes; unanticipated expenses such as litigation or legal settlement expenses; tax law changes; and industry specific events or conditions that may adversely impact revenue or other financial projections. Actual results could differ materially from anticipated results. Tyco is under no obligation (and expressly disclaims any obligation) to update its forward-looking statements. More information on potential factors that could affect the Company's financial results is included from time to time in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's public reports filed with the SEC, including the Company's Form 10-K for the fiscal year ended September 26, 2014, filed with the SEC.
SOURCE Tyco
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