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Honeywell to buy Carrier's security business for $4.95bn

Christian Fernsby |
Honeywell announced plans to enhance and strengthen its building automation capabilities with the acquisition of Carrier Global Corporation’s Global Access Solutions business for $4.95 billion, in an all-cash transaction.

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This acquisition will enable Honeywell to become a leading provider of security solutions for the digital age.

The acquisition, which includes both hardware and software solutions, further supports Honeywell’s recently announced plans to align its portfolio to three compelling megatrends: automation, the future of aviation and energy transition, underpinned by robust digitalization capabilities and solutions.

The Global Access Solutions business will enhance Honeywell Building Technologies’ business model of leading with high-value products that are critical for buildings.

When the deal closes, the combined company will be able to accelerate innovation, bringing products and capabilities to customers that are increasingly moving to cloud-based services and solutions.

The purchase price represents approximately 13x 2023E EBITDA, inclusive of tax benefits and run-rate cost synergies. The transaction is expected to be cash-EPS accretive in the first full year of ownership.


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