UTC Climate, Controls & Security agrees to buy S2 Security

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Wednesday, September 26, 2018

PALM BEACH GARDENS, Fla.—UTC Climate, Controls & Security has agreed to acquire S2 Security, a developer of unified security and video management solutions. UTC Climate, Controls & Security provides fire safety, security, building automation, heating, ventilating, air conditioning and refrigeration systems, and is a unit of United Technologies Corp.

“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, said in the announcement. “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.”

John Moss, founder and chief executive officer of S2 Security, said in a prepared statement, “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.