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GE Security for Sale?
The old ITI, Caddx and Sentrol -- which became Interlogix and was sold to GE in 2002 -- may be up for sale with the potential to fetch $2 billion.
Bloomberg is reporting that General Electric is looking to sell its security unit, which may fetch about $2 billion according to anonymous sources.
The rumors have been spreading for quite some time.
GE built its security division via the acqusition of Interlogix in 2002 . Interlogix was formed by the merging of Interactive Technologies Inc. (ITI), Caddx, Sentrol, Kalatel and some other notable security companies.
According to the Bloomberg article, JPMorgan Chase & Co. has been retained to find a buyer for GE Security. Among the potential buyers? The authors name Tyco (owner of DSC alarm products and ADT security installation) and United Technologies Corp. (owner of Carrier, Otis Elevators and the giant Chubb Security Systems) as prospects.
GE Security projected $3 billion in sales by 2011, up from about $1.8 billion in 2007, according to Bloomberg.
Among CE Pro readers, GE Security is the second-most specified security system after Honeywell.
GE declined to comment for this article.
The rumors have been spreading for quite some time.
GE built its security division via the acqusition of Interlogix in 2002 . Interlogix was formed by the merging of Interactive Technologies Inc. (ITI), Caddx, Sentrol, Kalatel and some other notable security companies.
According to the Bloomberg article, JPMorgan Chase & Co. has been retained to find a buyer for GE Security. Among the potential buyers? The authors name Tyco (owner of DSC alarm products and ADT security installation) and United Technologies Corp. (owner of Carrier, Otis Elevators and the giant Chubb Security Systems) as prospects.
GE Security projected $3 billion in sales by 2011, up from about $1.8 billion in 2007, according to Bloomberg.
Among CE Pro readers, GE Security is the second-most specified security system after Honeywell.
GE declined to comment for this article.
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About the Author
Julie Jacobson, Editor-at-large, CE Pro
Julie Jacobson is co-founder of EH Publishing and currently spends most of her time writing for CE Pro, mostly in the areas of home automation, networked A/V and the business of home systems integration. She majored in Economics at the University of Michigan, earned an MBA from the University of Texas at Austin, and has never taken a journalism class in her life. Julie is a washed-up Ultimate Frisbee player with the scars to prove it. Follow her on Twitter @juliejacobson.
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UPDATE: An article in The Financial Times yesterday hints that United Technologies Corp. (UTC) has emerged as the leading candidate to purchase GE Security. Bosch and Tyco are named as other possibilities.