UTC Climate, Controls Security has agreed to acquire S2 Security, a leading developer of unified security and video management solutions.
UTC Climate, Controls Security is a leading provider of fire safety, security, building automation, heating, ventilating, air conditioning (HVAC) and refrigeration systems, and is a unit of United Technologies Corp.
“This move is well aligned with our strategic focus to grow our core business and increase innovation,” said Alex Housten, VP General Manager, Security Products, a part of UTC Climate, Controls Security.
“We look forward to providing enhanced service capabilities and offerings for our customers, and accelerating our access control and video-centric solutions for intelligent buildings across the globe.”
John Moss, Founder and Chief Executive Officer, S2 Security said, “Considering the complementary customer bases and product portfolios of our two companies, this is a natural step that will benefit our customers, employees, and channel partners.”
The acquisition is subject to customary closing conditions and regulatory approvals.
UTC Climate, Controls & Security is a leading provider of heating, ventilating, air conditioning and refrigeration systems, building controls and automation, and fire and security systems leading to safer, smarter, sustainable and high-performance buildings.
S2 Security is the leading developer of complete enterprise physical security solutions, including access control, video surveillance, event monitoring, digital signage, live Internet sourced real-time data and information feeds, mobile applications and cloud-based services.Source: utc.com