Benzinga | Oct 19, 2021 12:33PM EDT

Carrier Acquires Residential Alarm Company Cavius For Undisclosed Sum

* Carrier Global Corp (NYSE:CARR) has acquired Cavius, a Danish residential alarm company that provides a complete range of smoke, heat, flood, and carbon monoxide alarms. The financial terms of the deal were not disclosed.

* Cavius will strengthen Carrier Fire & Security's residential fire safety solutions in Europe, including Kidde products.

* The acquisition of Cavius enhances Carrier's Healthy Homes range in Europe, Australia, and New Zealand.

* Carrier Global held cash and equivalents of $2.66 billion as of June 30, 2021.

* "The acquisition of Cavius, combined with the market strength of Kidde, will accelerate our innovation pipeline, grow our interconnected home safety offering and strengthen our professional and retail customer channels," said Jurgen Timperman, President, Carrier Fire & Security.

* Price Action: CARR shares are trading lower by 0.72% at $53.59 on the last check Tuesday.