UTC Climate, Controls & Security Agrees to Acquire S2 Security
UTC Climate, Controls & Security announced that it 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, heating, ventilating, air conditioning (HVAC) and refrigeration systems, and is a unit of United Technologies Corp.
S2 Security develops complete enterprise physical security solutions, including access control, video surveillance, event monitoring, digital signage, live Internet sourced real-time data and information feeds, mobile applications and cloud-based services.
"This move is well aligned with our strategic focus to grow our core business and increase innovation," said Alex Housten, vice president and general manager, Fire & 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."
John Moss, founder and chief executive officer, S2 Security said, "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." The acquisition is subject to customary closing conditions and regulatory approvals.