UTC Fire & Security, a unit of United Technologies Corp., announces the completion of its purchase of Britain’s Rentokil Initial electronic security business units located in the Netherlands, U.K. and United States for $1.16 billion
The acquisition of Initial Electronic Security Group’s (IESG) French business remains conditional upon French regulatory approval, the company says. IESG sells integrated security, intrusion detection, CCTV and access control systems, and security software.
“The addition of IESG will strengthen our presence in Europe, while adding branch locations in the U.S.,” says Bill Brown, president, UTC Fire & Security. “The combined businesses position us well for further growth and expansion, and bring additional value to our customers, shareholders and employees.”
United Technologies Corp., based in Hartford, Conn., is a diversified company providing high technology products and services to the building and aerospace industries.
