Security

UTC / GE Security – Good Sale, Good Buy and More to Come

On 12th November, UTC announced that it had agreed to purchase GE Fire & Security for $1.82 billion which will be the biggest security and safety deal recorded in the last five years. Many column inches have since been written about why this was such a good deal for UTC but in the short term I guess that the GE negotiating team had more to celebrate on the day. In the present economic climate, two years of steeply declining revenues and profits and only one serious buyer for the combined operation, they came out with a good deal. For UTC this is a deal of 2 halves with the old Edwards Fire Detection business being the jewel in the crown and the security business looking as though it needs a serious technology revamp. The fire business fits in well with their current operations. It was purchased by GE in March 2005 for $1.4 billion and […]

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