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Article: United Technologies Corp. Signs Agreement to Acquire GE's Security Business for $1.82B.
- Article from:
- Business Wire
- Article date:
- November 12, 2009
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BRADENTON, Fla. -- GE (NYSE: GE) announced today that it has signed a definitive agreement with United Technologies Corp. (NYSE: UTX) for UTC to acquire GE's Security business for $1.82B. The transaction has been approved by the Boards of both companies, and will be subject to customary closing conditions including regulatory approvals.
"The Security business required significant investment in its capabilities to evolve and better serve the security industry," said Charlene Begley, President & CEO, GE Enterprise Solutions, which includes GE Security.
"For our customers and our employees UTC is a natural fit," Begley said. "The combination of UTC's ...