Security

UTC Fire & Security Goes for Growth with Acquisition of GE Security

UTC announced today that they will buy GE Security for $1.8 billion. The full details have not yet been disclosed but this looks to be an exit price based on sales revenue of around unity. This seems like a good buy particularly considering that it cost GE Security at least $2 billion to assemble the main parts of it's business. Clearly it is not the best time for selling such a major business unit but I guess that this now gives GE the opportunity to buy something else at a bargain price, which makes a better fit with their enshrined ruling; "if you can’t make No 1 or 2 in the business then divest." So the opportunity to buy a $2 billion business has come at a good time for UTC. A number of the major competitors in the market were keen to bid but the fit was not so good for them at least […]

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