United Technologies Corporation (UTC), a $54-3 billion US-based diversified aerospace and building systems provider, has announced acquisition of two Chennai-based firms through its group companies for an undisclosed sum. While UTC Climate Controls & Security Systems has closed a deal to acquire a controlling stake in Agnice Fire Protection, Career, a business unit of UTC has signed an agreement to acquire Sauter Race Technologies. The terms of both the deals were not disclosed.

Zubin Irani, president, UTC Climate Controls and Security Systems, India, said, ?These acquisitions form part of our ambition to secure a sales turnover of $2.5 billion from the country by 2015. With acquisitions like these, we strengthen our position by building scale, reach, product offerings and customer service capabilities across the country. UTC had clocked half a billion dollars of revenue in the country during the last financial year, out of which close to $300 million was contributed by Climate Controls and Security Systems vertical.? UTC Climate, Control & Security Systems is a key player in heating, ventilation and airconditioning.

Zubin Irani said that UTC has been expanding its operations through organic and inorganic ways and the company has grown three-fold compared to its peers in the last 15 years. ?The company had set up centres in Hyderabad and Bangalore to fuel growth,? he said.

Govindarajan, managing director, Agnice, said, ?By aligning with UTC?s global expertise, capabilities and network, this acquisition will provide a superior platform for out continued growth.?

Similarly, the acquisition of Sauter Race Technologies by Carrer, announced by UTC on Friday, is touted to be a move to strengthen its footprint in integrated building management segments. Set up in 1992 in Chennai, Sauter Race is a key player in building automation and management systems company.

Guarang Pandya, MD, Career Airconditioning & Refrigeration, said, ?We have signed an agreement to acquire Sauter Race Technologies to further expand UTC?s presence in India. The acquisition will happen in the next four to eight weeks.?