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Ingersoll-Rand Buys Dolphin

The Indian company writes security software.
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Ingersoll-Rand's (IR) - Get Ingersoll Rand Inc. Report Indian unit acquired the assets of Dolphin Electromagnetic Technologies.

Terms wern't disclosed, but Dolphin, based in Mumbai, supplies security-systems design, engineering, installation and integration products and services. It also makes what Ingersoll called "a unique Internet-based access-control system, SENSE, which enables users to manage security systems for multiple remote sites."

The business has six offices in India and sells to organizations in the hospitality, financial services and pharmaceuticals markets, as well as to airports, seaports, corporate and retail centers.

"Dolphin provides Ingersoll-Rand with superior security-systems technologies, expertise and related integration services while expanding our capabilities in a large and growing market," said CEO Herbert L. Henkel. "Dolphin's existing client roster, which includes multinational customers with facilities in India, and its regional operations represent an important platform for expanding Ingersoll-Rand's participation in the global security-technologies market."

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On Friday, Ingersoll rose 80 cents to $79.22.