United Tech in bid to buy Chubb, claim sources

UNITED Technologies Corp, the maker of Carrier air conditioners and Otis elevators, is in talks to buy Chubb Plc, the world's third-largest provider of security services, people familiar with the situation said.

United Technologies reiterated last week that it expects to spend $1.5 billion on acquisitions this year. Chubb has a market value of $1.07 billion.

The purchase would let United Technologies sell Chubb's electronic-security and fire-detection services to Carrier and Otis's commercial customers, delivering more non-aerospace income as the commercial aerospace industry slumps. The company also makes Pratt & Whitney jet engines and Sikorsky helicopters.