U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): MAY 27, 1997
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ITI TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-24900 06-1340453
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
2266 NORTH 2ND STREET
NORTH ST. PAUL, MINNESOTA 55109
(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code: (612) 777-2690
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NOT APPLICABLE
(Former name or former address, if changed since last report.)
(The remainder of this page was intentionally left blank.)
ITEM 5. OTHER EVENTS.
ITI Technologies, Inc. (the "Company") announced on May 27, 1997 that
its subsidiary, Interactive Technologies, Inc. ("ITI"), had acquired the Regency
product line and dealer program from the Silent Knight Division of Willknight,
Inc. of Maple Grove, Minnesota. The terms of the transaction were not disclosed.
The information set forth in the Company's press release attached
hereto as Exhibit 99.1 is hereby incorporated by reference herein.
This Current Report on Form 8-K (including, without limitation, the
information incorporated herein by reference) contains forward-looking
statements that involve risks and uncertainties. Actual results may differ from
the results discussed in the forward-looking statements due to many factors
including, without limitation, risks associated with acquisitions, such as
difficulties in assimilating operations, systems and products of the acquired
company; the diversion of management's attention from other business concerns;
and the risks of entering new markets.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) FINANCIAL STATEMENTS OF BUSINESSES ACQUIRED.
Not applicable.
(b) PRO FORMA FINANCIAL INFORMATION.
Not applicable.
(c) EXHIBITS.
Exhibit 99.1 Press Release of ITI Technologies, Inc. dated
May 27, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ITI Technologies, Inc.
Date: May 27, 1997. By /s/ Charles A. Durant
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Charles A. Durant
Secretary
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contact Charles A. Durant, Vice President of ITI Technologies, Inc. at
612-777-2690.
ITI TECHNOLOGIES ACQUIRES REGENCY
NORTH ST. PAUL, MINNESOTA - MAY 27, 1997
ITI TECHNOLOGIES, INC. (ITII, NASDAQ) today announced that its subsidiary,
Interactive Technologies, Inc. (ITI), has acquired the Regency product line and
dealer program from the Silent Knight Division of Willknight, Inc. of Maple
Grove, Minnesota. The terms of the transaction were not disclosed.
"Today's announcement will expand our position as a leading provider of security
products and marketing programs to the electronic alarm industry," said Thomas
L. Auth, Chairman, President and CEO of ITI Technologies. "Coupled with our
recent acquisition of CADDX Controls, Inc., this transaction is a further
indication of our determination to expand our offerings in the overall
electronic security industry, in addition to maintaining our market leader
position in the wireless security alarm segment."
ITI Technologies, Inc. is the parent of both ITI, the leading designer and
manufacturer of wireless electronic security systems, and CADDX Controls, Inc.,
the Gladewater, Texas based manufacturer of advanced hardwired security systems.
The Regency product line allows ITI to offer an established product line that
integrates intrusion protection, fire protection and access control. The Regency
dealer program consists of over 100 Regency dealers throughout North America.
"With the resources of ITI behind the products and program, the acquisition
should provide a growth opportunity for both current and future Regency
dealers," added Auth. "ITI will work to update and upgrade the Regency product
line and increase support of the Regency dealer program."
The Regency program will be operated by ITI under the "Regency Systems" trade
name. Following a short transition period, the Regency product line will be
manufactured at ITI's North St. Paul, Minnesota facility.
THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS THAT INVOLVE RISKS AND
UNCERTAINTIES. ACTUAL RESULTS MAY DIFFER FROM THE RESULTS DISCUSSED IN THE
FORWARD-LOOKING STATEMENTS. FACTORS THAT MIGHT CAUSE SUCH A DIFFERENCE INCLUDE,
BUT ARE NOT LIMITED TO, RISKS ASSOCIATED WITH ACQUISITIONS, SUCH AS DIFFICULTIES
IN ASSIMILATING OPERATIONS, SYSTEMS AND PRODUCTS OF THE ACQUIRED COMPANY; THE
DIVERSION OF MANAGEMENT'S ATTENTION FROM OTHER BUSINESS CONCERNS; AND THE RISKS
OF ENTERING NEW MARKETS.
