Honeywell is no longer pursuing a strategic combination with United Technologies due to their unwillingness to engage in negotiations.
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Honeywell was interested in a combination because it saw compelling value creation for both sets of shareholders and a readily executable transaction due to two largely complementary business portfolios.
The company strongly disagrees with United Technologies' characterization of the regulatory and customer risks associated with the transaction.
Honeywell said it has acquired privately held RSI Video Technologies (RSI), a global provider of intrusion detection systems for commercial and residential security applications under the brand Videofied, for approximately $123 million (€113 million).
RSI's wireless battery-powered motion detectors with built-in cameras deliver live, high-quality video over the cloud to central monitoring stations and end-users.
The acquisition enhances Honeywell's ability to meet the increasing global customer need for video verification, and it also brings a unique do-it-yourself (DIY) offering combined with professional monitoring.
Founded in 2000 and based in Strasbourg, France, with key operations in Minnesota, RSI has one of the largest installed bases of video-verified alarm systems in the world, with more than 1 million installations in more than 60 countries. It has approximately 110 employees in France and the U.S.
RSI will become part of Honeywell Security and Fire, a business unit of Honeywell Automation and Control Solutions.
Honeywell has completed its acquisition of privately held Movilizer, which created one of the world's first cloud platforms for field service applications.
Movilizer is used by remote workers performing service or maintenance, sales and distribution, and warehousing activities away from the office. Terms of the deal were not disclosed.
Movilizer's cloud software enables a distributed workforce to create, deploy and manage workflow solutions – whether at the point of sale, in the field, in a warehouse or distribution center.
Customers can collect, transmit and analyze data generated by their workers on their existing information technology (IT) systems, enabling them to harness the power of their workforce from anywhere to best serve the needs of their end customers. ■