UTC Agrees to Acquire S2 Security
S2 to be acquired by UTC.
UTC has agreed to acquire unified security, access control, and CCTV solutions provider, S2 Security, a manufacturer of IP-based physical security and video management systems.
“This move is well aligned with our strategic focus to grow our core business and increase innovation,” Alex Housten, VP & 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.”
Meanwhile, John Moss, founder and CEO, S2 Security, said that considering the complementary customer bases and product portfolios of the 2 companies, the acquisition was a natural step that will benefit customers, employees, and channel partners.
United Technologies believes the buyout will enable it to boost its security portfolio as well as enhance service capabilities and offerings to its customers. The complementary product portfolios and customer bases of both the companies are also likely to benefit customers and channel partners.