MELVILLE, N.Y., Feb. 4, 2016 /PRNewswire/ -- Honeywell
(NYSE: HON) has entered into a definitive agreement to
acquire Xtralis, a leading global provider of aspirating smoke
detection along with advanced perimeter security technologies and
video analytics software, for $480
million from funds advised by Pacific Equity Partners and
Blum Capital Partners.
Xtralis aspirating smoke detection solutions protect many
Fortune 500 companies, iconic sites and critical infrastructures
worldwide. They are used in data centers, historical buildings,
airports, industrial sites and manufacturing facilities to provide
very early warning and verification of threats to speed response
time and minimize facility damages and potential injuries.
"This acquisition fits perfectly with Honeywell's technology
innovation and leadership," said Alex
Ismail, president and CEO of Honeywell Automation and
Control Solutions. "Xtralis' early smoke detection and advanced
security technologies and video analytics software complement our
growing Security and Fire business, and show our commitment to
making the world safer and more secure."
The company is headquartered in Dublin, Ireland, with approximately 500
employees across Europe,
Middle East, Africa, Asia
Pacific and the Americas, and has more than 30
years of fire and security experience. The transaction is expected
to close in the second quarter of 2016 subject to customary closing
conditions, including regulatory approvals.
"Xtralis is a fantastic addition to the Honeywell portfolio that
strengthens our offering for critical infrastructure and high-value
assets," said David Paja, president,
Honeywell Security and Fire. "Eliminating downtime for an IT data
center is mission critical considering that the average revenue
loss due to a fire or smoke is more than $5
million a week1. The addition of Xtralis
to our portfolio enhances our ability to meet the needs of our
customers for early and reliable smoke detection."
The company pioneered the development of very early warning
technology that can detect smoke in a facility at an early stage of
a fire, which gives emergency responders precious additional time
to help prevent or minimize physical damage and injury.
Upon completion of the acquisition, Xtralis will become part of
Honeywell Security and Fire, a business unit of Honeywell
Automation and Control Solutions. Honeywell Security and Fire is a
leading global manufacturer of electronic security and life safety
technologies for commercial buildings, industrial sites and homes
worldwide.
1 Source: Aberdeen Group, "Datacenter
Downtime: How Much Does It Really Cost?", March 2012
About Honeywell
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.honeywellnow.com.
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SOURCE Honeywell