GE to sell security unit to United Technologies

Nov 12, 2009

US conglomerate General Electric on Thursday announced it would sell its security unit to United Technologies Corp. for 1.82 billion dollars.

GE Security provides communication and technologies for surveillance, security and fire detection and has operations in over 26 countries.

"The Security business required significant investment in its capabilities to evolve and better serve the security industry," said Charlene Begley, president and of the unit that includes GE Security.

The Security business will become part of UTC's Fire & Security business, which is headquartered in Connecticut.

"We're excited to invest in a company whose technologies will improve our growing position in the fire and security industry," said UTC division president William Brown.

"GE has well respected products and brands that complement our existing portfolio and position us well for future growth."

GE, one of the world's biggest companies, makes aircraft engines, energy equipment and owns the NBC Universal media entertainment group.

UTC is a diversified company whose units include Sikorsky helicopters, Pratt & Whitney aircraft engines, Hamilton Sundstrand aerospace systems, Otis elevators and Carrier heating and air conditioning.

(c) 2009 AFP

Explore further: Sony founder nephew starts as head of PlayStation unit

add to favorites email to friend print save as pdf

Related Stories

SAIC finishes aquisition of GSTI

Apr 18, 2006

Research company Science Applications International Corporation announced Tuesday it has completed its acquisition of Geo-Spatial Technologies Inc.

GE to open advanced tech center in Michigan

Jun 26, 2009

General Electric announced plans Friday to open an "advanced manufacturing technology and software center" in Michigan that could create more than 1,100 job in the coming years.

Recommended for you

Job listing service ZipRecruiter raises $63 million

17 hours ago

ZipRecruiter, a California start-up that tries to simplify tasks for recruiters, has raised $63 million in initial venture capital funding as the 4-year-old service races to keep up with growing demand.

Alibaba IPO comes with unusual structure

Sep 01, 2014

Foreigners who want to buy Alibaba Group shares in the Chinese e-commerce giant's U.S. public offering will need to get comfortable with an unusual business structure.

User comments : 0