Honeywell to Acquire Hand Held Products
MELVILLE, N.Y.
Honeywell has signed a definitive agreement to acquire Hand Held Products Inc., a privately held automatic identification and data collection company based in Skaneateles Falls, N.Y., for $390 million. Hand Held will become a part of Honeywell’s Security Group within the Automation and Control Solutions (ACS) business.
Hand Held’s core products are bar code scanners and mobile, wireless computers used for asset tracking, logistics execution and supply chain management. The deal is subject to legal and regulatory approval and is expected to be completed within 60 days.
“Hand Held’s growth potential and strong positions in key vertical markets complement ACS’ existing wireless solutions,” says Roger Fradin, president and CEO of Honeywell ACS. “Hand Held’s ‘customer first’ mentality fits well with our culture. Both cultures value innovation that drives our customers’ success.”
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