Illustration 19276996 / Dirk Erck / Dreamstime
Iillustration 19276996 / Dirk Erck / Dreamstime
Illustration 60886103 / Kheng Ho To /Dreamstime

GE Looking to Sell Security Business

Nov. 11, 2009
GE is in talks to sell its security systems unit, most likely to United Technologies Corp. for more than $1.5 billion in an effort to reshuffle its extensive portfolio and raise capital for strategic acquisitions according to a new report posted by ...

GE is in talks to sell its security systems unit, most likely to United Technologies Corp. for more than $1.5 billion in an effort to reshuffle its extensive portfolio and raise capital for strategic acquisitions according to a new report posted by Zacks Equity Research on Nov. 11.

A big piece of GE's security business is Edwards System Technology, a maker of fire detection equipment, which GE bought from SPX in 2004 for $1.4 billion according to a 2004 article in Electrical Marketing. Edwards was acquired by SPX in 1998 as part of its acquisition of General Signal.