UTC Climate, Controls & Security has agreed to acquire S2 Security, a developer of unified security and video management solutions. UTC Climate, Controls & Security is a provider of fire safety, security, building automation, 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 and general manager, fire and 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.”
“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,” added John Moss, founder and CEO, S2 Security.
The acquisition is subject to customary closing conditions and regulatory approvals. Terms of the deal were not disclosed.