Schneider Electric, parent company of TAC, has completed the $296 million acquisition of Invensys Building Systems (IBS), a division of Invensys Controls. IBS will merge with TAC, a leader in building automation, security systems and energy solutions. This follows the merger with Invensys ABS EMEA in 2005; revenues for the combined company are forecasted to exceed $1.3 billion in 2006.

The companies report that customers will benefit from:
• evolving product lines with integrated, IP-based open platforms
• complete building solutions that include hvac, security, field devices, fire and safety, lighting control, machine automation, and power monitoring
• sales and service offices in 500 locations across 80 countries
• lifecycle building services including both traditional and extended services.