United Technologies Unit to Acquire Security Services Firm Red Hawk for Roughly $142 Million

FARMINGTON, Conn. (AP) -- United Technologies Corp. said Wednesday its UTC Fire & Security unit will acquire security services provider Red Hawk Industries for just under $142 million.
Denver, Colo.-based Red Hawk has about 800 employees, and installs, repairs and maintains a range of security technology products and equipment, such as video surveillance systems, safes, vaults and ATM machines. The company reported 2005 sales of $142 million.

"Red Hawk is a strong player in the financial services segment," said Bill Brown, UTC Fire & Security president. "Its ability to deliver integrated security solutions combined with its expertise in ATM placement and maintenance will enable us to provide additional value to our current and future customers."

UTC Fire & Security has about one million customers worldwide. The company said the deal is subject to antitrust review and approval.

Shares of United Technologies fell 39 cents to close at $63.33 on the New York Stock Exchange.

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