Industry NewsNews Brief

GE sells Supra lockbox parent

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United Technologies says it has closed a deal to acquire GE Security, the parent company of Supra electronic KeyBoxes and ActiveKEY wireless lockbox keys for real estate professionals.

United Technologies announced the $1.82 billion deal to acquire General Electric Co.’s GE Security division in November.

GE Security becomes part of UTC Fire & Security, which provides fire safety and security solutions to more than 1 million customers worldwide, United Technologies said in a press release.

In a blog post, Matt Cohen of Clareity Consulting said UTC is likely to allow decision-making to remain "at the Supra level — in the hands of people who really know what their customers want."

According to the information about Supra products on the GE Security Web page, the company’s electronic KeyBoxes are used on more than 2.3 million homes nationwide.

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