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NEWS RELEASE APi GROUP API Group Corporation to Acquire Chubb Fire & Security Business for $ 3.1 Billion 7/27/2021 -Transforms API into world's leading life safety services provider- -Strengthens recurring revenue , services - focused business model- -Acquisition expected to be highly accretive with compelling synergy opportunities- -Conference call to be held today at 9:00 a.m. ( Eastern Time ) - API Group Corporation ( the " Company " ) ( NYSE : APG ) is pleased to announce that it has entered into a definitive agreement to acquire the Chubb Fire & Security Business ( " Chubb " ) from Carrier Global Corporation ( NYSE : CARR ) for an enterprise value of $ 3.1 billion , which is comprised of $ 2.9 billion cash and approximately $ 200 million of assumed liabilities and other adjustments . Headquartered in the United Kingdom , Chubb has approximately 13,000 employees globally and a sales and service network spanning 17 countries serving more than 1.5 million customer sites in Europe , Asia Pacific and Canada . The business is a globally recognized fire safety and security provider , offering customers complete and reliable services from design and installation to monitoring and ongoing maintenance . Russ Becker , API's President and Chief Executive Officer stated : " This is a very exciting day in the history of API . We have spent a tremendous amount of time evaluating several transformative opportunities as well as more traditional acquisitions . With the acquisition of Chubb , we see a tremendous amount of accelerated organic growth and margin expansion opportunities across our combined platform . There is also significant opportunity to 1