United Technologies Corp. (NYSE: UTX) has purchased infrared imaging technology developer N2 Imaging Systems for an undisclosed sumÂ in a move to complement UTC’s intelligence, surveillance and reconnaissance portfolio.
Irvine, California-based N2 will be integrated into the force protection business group of UTC’s aerospace systems segment, UTC said Wednesday.
“This acquisition underscores our commitment to our customers’ mission needs, ” said John Trezza, UTC vice president and general manager of the force protection unit.
Trezza added theÂ two companies willÂ exchange imaging technology development expertise as they aim to jointly pursue the U.S. Army‘s Enhanced Night Vision program.
UTC’s aerospace systems segment builds integrated systems and components designed to support military customers’ strategic, operational and tactical activities.
Shares in Charlotte, North Carolina-based UTC wereÂ flat at $95.25 from Wednesday’s close as of 10 a.m. Thursday.
The companyÂ said in OctoberÂ it plans to repurchase $12 billion of its stock.