JCI Completes Merger with Tyco

Johnson Controls Inc. has finalized its acquisition of Tyco International plc. The merger was announced in January and approved by shareholders in August. Tyco markets fire protection and security systems.

The deal creates a new company, Johnson Controls plc, with headquarters in Cork, Ireland. JCI says the maneuver, known as a tax inversion, will eventually save about $500 million per year.

The new company will continue to trade on the New York Stock Exchange under the JCI symbol. JCI’s main office in Milwaukee is new company’s North American headquarters.