Honeywell recently announced the completion of the acquisition of Carrier’s global security business. The acquisition, valued at $4.95 billion, will enable Honeywell to become one of the premier providers of security solutions in the digital age, providing additional opportunities to accelerate innovation in the fast-growing cloud services and solutions space.

The transaction aligns Honeywell’s product portfolio with three major trends it focuses on, including automation, and complements the business segments of Honeywell’s Smart Building Technologies Group.

IS215WEPAH2B The acquisition adds three widely recognized brands to Honeywell’s portfolio, bringing differentiated software capabilities:

■LenelS2, one of the leading brands in commercial and corporate security;

■Onity, an electronic lock brand specializing in providing products and services for hotel security and mobile certificates;

■Supra, a brand specializing in cloud-based electronic cipher boxes and scheduling software.

Approximately 1,200 employees in the global security business are now Honeywell employees. The transaction is expected to be accretive to earnings per share in the first full year following completion of the acquisition.

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The global security business will enhance Honeywell Smart Building Technologies’ business model of delivering critical, high-value products to buildings. Honeywell will also benefit from the business’s impressive growth and margins, high-value software content, and a growing portfolio of recurring revenue that, combined with Honeywell’s existing security portfolio, is expected to generate annual sales of more than $1 billion.

CEO of Honeywell

IS215WEPAH2B Vimal Kapur said:

“As global security needs evolve from protecting people to protecting people and property, we see strong growth potential in the security business.”

“With Honeywell’s deep experience in delivering high-value building automation products, solutions and services around the world, this acquisition creates an exciting opportunity for us to further grow our performance and improve our bottom line, while also bringing better services and solutions to our customers.”