United Technologies Corporation, Hartford, Conn., today announced it has reached an agreement to purchase the GE Security business from GE for $1.82 billion. The closing is pending regulatory approvals.
"This acquisition enhances UTC Fire & Security’s status as a leading franchise in the $100 billion global fire safety and electronic security industry," said Louis Chênevert UTC president and CEO. "It strengthens our North American footprint, extends our capabilities and complements our existing fire and security businesses.”
Headquartered in Farmington, Conn., UTC Fire & Security was established in 2003 with the acquisition of fire safety and electronic security supplier Chubb. It since has grown with the additions of fire suppression supplier Kidde, electronic security supplier Onity, and Lenel, a provider of software and integrated systems for the corporate and government security markets. Its other brands include Red Hawk, which was ranked eighth on the 2009 SDM Top Systems Integrators list and specializes in the deployment of physical security equipment; Guardall Secure Solutions, a provider of control panels and detection equipment; and security monitoring services provider Counterforce.
GE Security, part of GE Technology Infrastructure, supplies security and life safety technologies through a broad product portfolio for commercial and residential applications that include fire detection and life safety systems, intrusion alarms, and video surveillance and access control systems. Headquartered in Bradenton, Fla., the business has eight manufacturing facilities and approximately 4,700 employees in 26 countries.
UTC Fire & Security is a business unit of United Technologies Corporation, which provides technology products and services to the building and aerospace industries worldwide. For more information, visit www.utcfireandsecurity.com.