Industrial Safety Technologies Acquired For $329.5M

The Woodlands, Texas-based Industrial Safety Technologies said this week that it has been acquired by Scott Safety, in a deal worth $329.5M in cash. IST--which develops industrial safety technology and wireless gas measurement equipment--was owned by venture capital investor Battery Ventures. Scott Safety itself is a unit of Tyco. IST owns five subsidiaries, Detcon; Gas Measurement Instruments (GMI); DSA Detection; Simtronics; and Oldham.