Tyco International Ltd., whose chairman Dennis Kozlowski resigned yesterday, became a fixture of Bermuda international business in 1997 when it bought Bermuda-registered security company ADT Ltd. from founder Michael Ashcroft for $5.6 billion.

As a result of the merger, Tyco established its headquarters in Bermuda. Although its operational headquarters remained in Exeter, New Hampshire, it also opened a small office in Hamilton.

Tyco now has offices in the Zurich Centre on Pitts Bay Road.

Tyco later established the headquarters of undersea cable laying company Tycom Ltd. on the Island, but its staff was scaled back earlier this year.

Mr. Kozlowski was a frequent visitor to the Island, but never bought a home here, instead using the Hamilton Princess as a base.

Last year, Tyco made local headlines when it christened its Volvo Around the World Race yacht Tyco in Hamilton Harbour.

In 2000, Business Week magazine named Tyco International the number one performing company in the S&P 500 index based on revenues and earnings growth, return to shareholders, profit margins, return on equity and sales of more than $25 billion.

But since then, the company has hit a series of problems, culminating in the resignation of Mr. Kozlowski, who spent a decade expanding the company largely through acquisitions.

This year, Tyco's accounting practices came under the spotlight in the wake if the collapse of Enron.

A plan to divide the company into four publicly traded segments also turned sour.

AndMr. Kozlowski later admitted it was a mistake.

Tyco also found itself caught in edges of the Patriot Tax controversy as US lawmakers criticised US corporations that had moved offshore, especially to Bermuda, saying they were being unpatriotic. Earlier this year, a CNBC report showed a reporter trudging around Hamilton asking local residents if they knew where the headquarters of Tyco, Global Crossing and other international companies were.

Few could give an accurate answer.