Honeywell Completes Acquisition Of Xtralis
MELVILLE, N.Y., April 1, 2016 /PRNewswire/ -- Honeywell (NYSE: HON) announced that it has completed its acquisition of Xtralis, a leading global provider of aspirating smoke detection, advanced perimeter security technologies, and video analytics software for $480 million.
"The acquisition of Xtralis is a good strategic fit to our current fire detection portfolio and will bring unique capabilities and customer solutions in remote visual verification of fire and intrusion risks, advanced perimeter security technologies, and video analytics software," said David Paja, president, Honeywell Security and Fire. "This acquisition helps us expand our Critical Infrastructure Protection (CIP) business and will help enable strong growth in the coming years."
Xtralis aspirating smoke detection solutions protect many Fortune 500 companies, iconic sites, and critical infrastructures worldwide to provide very early warning and verification of threats to speed response time and minimize facility damages and potential injuries.
The company will be integrated into Honeywell's Automation and Control Solution strategic business group.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
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SOURCE Honeywell