United Technologies Corp., parent company of Carrier Corp. said it will buy General Electric Co.'s fire detection and electronic security business for US$1.82 billion in a deal to expand its similar operations in North America.
United Technologies already sells portable fire extinguishers, consumer security systems, and gas and flame detection products.
The business, which is expected to have 2009 revenue of $1.2 billion, has eight manufacturing facilities and about 4700 employees in 26 countries.
The deal is subject to regulatory approval.
to Daily News