UTC Climate, Controls & Security to Acquire S2 Security
S2 Security is a leading developer of enterprise security solutions, led by its Founder and CEO John Moss.
UTC Climate, Controls & Security struck a deal to acquire S2 Security for undisclosed terms.
PALM BEACH GARDENS, Fla. — UTC Climate, Controls & Security has reached an agreement to acquire S2 Security, a leading developer of unified security and video management solutions, for undisclosed terms.
UTC Climate, Controls & Security is a leading provider of fire safety, security, building automation, heating, ventilating, air conditioning (HVAC) and refrigeration systems, and is a unit of United Technologies Corp. (NYSE: UTX).
“This move is well aligned with our strategic focus to grow our core business and increase innovation,” states 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.”
S2 Security, based in Framingham, Mass., was founded by John Moss in 2002. The company provides 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.
Moss, an SSI Industry Hall of Fame inductee, is also noted for founding the access control firm Software House in 1981, which was later acquired by Tyco Int’l. In a press release he comments on the S2 transaction: “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. UTC Climate, Controls & Security declined an interview request with SSI until the transaction has been completed.
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