Honeywell Gets FTC Approval for Novar Acquisition
MORRIS TOWNSHIP, N.J.
Honeywell has received approval from the Federal Trade Commission (FTC) to go ahead with its attempt to acquire European company Novar plc. Novar is the parent company of security product supplier Intelligent Building Systems (IBS), which would be folded into Honeywell’s Automation and Control Solutions (ACS) division in the $2.4 billion deal that was announced in December.
The deal still requires the approval of the European Commission and is expected to be approved in the next few months.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!