You are here: Home » PTI Stories » National » News
Business Standard

UTC Climate, Controls & Security announces agreementto

Press Trust of India  |  Bengaluru 

: UTC Climate, Controls & Security today announced that its affiliate has entered into an agreement with Limited to acquire EcoEnergy, Wipro's energy services business division.

Bengaluru-based EcoEnergy is a leading provider of energy management services for commercial customers in North America, and Asia.

UTC Climate, Controls & Security, provider of heating, ventilating, air conditioning (HVAC) and refrigeration systems is a unit of United Technologies Corp.

"We believe EcoEnergy's energy management platform and services, along with the expertise of its team, will enable UTC Climate, Controls & Security to further develop its remote monitoring and building analytics capabilities and bring enhanced services and solutions to UTC Climate, Controls & Security's broad, global customer base," Ross Shuster, president, International Operations, UTC Climate, Controls & Security, said.

"Our industry-leading brands, including Carrier, Riello, Chubb, Edwards, Onity, Automated Logic, Lenel, Interlogix, and Kidde, along with their channel businesses, will be able to offer EcoEnergy service options to our customers, leveraging EcoEnergy's talented staff of professionals," he said, according to an UTC Climate, Controls & Security statement.

The transaction will help EcoEnergy continue to serve its customers and enable them to realize the opportunities made possible by IoT and big data analytics, Mansoor Ahmad, Vice-President, Energy Management Services, EcoEnergy, said.

"We expect to develop the EcoEnergy brand in wider segments and geographies through our technology and service expertise, powered by the reach of UTC Climate, Controls & Security brands," he said.

The acquisition is subject to customary closing conditions and regulatory approvals,the statement said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 30 2016. 20:42 IST