Haier, a home appliances and consumer electronics company, agreed to acquire the commercial refrigeration business from Carrier, a heating, ventilation, and air conditioning, refrigeration, and fire and security equipment corporation, for $640m. "Carrier Commercial Refrigeration is a preeminent global enterprise with respected brands, leading technology, and an experienced workforce dedicated to providing best-in-class solutions to customers globally. The acquisition will help Haier Smart Home establish its commercial refrigeration platform, enabling the Company to capture additional growth opportunities by expanding its presence to food retail refrigeration and cold storage," Huagang Li, Haier Smart Home Chairman and CEO.