UTC Fire & Security Completes Acquisition of Initial Electronic Security Group in Netherlands, U.S. and U.K.
PR Newswire Europe, July, 2007
HARTFORD, Connecticut, July 2 /PRNewswire/ --
UTC Fire & Security, a unit of United Technologies Corp. (NYSE: UTX), has completed its purchase of Rentokil Initial's Electronic Security business units located in the Netherlands, U.K. and U.S. The acquisition of Initial Electronic Security Group's (IESG) French business remains conditional upon French regulatory approval.
"IESG is an excellent strategic fit with our electronic security business. The addition of IESG will strengthen our presence in Europe, while adding branch locations in the U.S. The combined businesses position us well for further growth and expansion, and bring additional value to our customers, shareholders and employees," said Bill Brown, President, UTC Fire & Security.
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