Acquisition eminent.(News)(United Technologies Corp. plans to acquire Lenel Systems International Inc.)(Brief Article)
Security Dealer, May, 2005
In a recently released press statement, United Technologies Corp. (UTC) CT-based provider of high technology products and services to the aerospace and commercial building industries worldwide, announced plans to acquire Lenel Systems International Inc., a Rochester, NY-based security systems and software developer. The transaction, which is subject to regulatory clearance, is expected to close in the second quarter, and will not have a significant impact on UTC's 2005 revenues or earnings. The purchase price is put at approximately $400 million, according to the release.
Lenel is a privately held company and employs approximately 150 people. It will report as an independent entity to Olivier Robert, president of UTC's fire and security business, Chubb. The...
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