United Technologies Corp. (UTC), Hartford, Conn., has announced plans to acquire Lenel Systems International Inc., Rochester, N.Y., a high-end security systems and software developer, for approximately $400 million. The transaction, which is subject to regulatory clearance, is expected to close in the second quarter.
“It’s a lot of money, but it’s a brand,†conceded Sandra Jones of Sandra Jones & Co., Chardon, Ohio. “The brand has equity, and those companies who aren’t leveraging brand need to start doing that because it adds value.