Honeywell to Acquire Smoke Detection and Video Security Company Xtralis
Upon completion of the deal, Xtralis will become part of Honeywell Security and Fire, a business unit of Honeywell Automation and Control Solutions.
MORRIS PLAINS, N.J. – Honeywell (NYSE: HON) has agreed to acquire Xtralis, a global smoke detection and video security company, for $480 million.
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Founded in 1984 and based in Dublin, Xtralis’s majority shareholders are Australian private-equity firm Pacific Equity Partners and San Francisco-based private-equity firm Blum Capital Partners.
Xtralis aspirating smoke detection solutions protect many Fortune 500 companies, iconic sites and critical infrastructures worldwide, according to a press release. They are used in data centers, historical buildings, airports, industrial sites and manufacturing facilities to provide very early warning and verification of threats.
“This acquisition fits perfectly with Honeywell’s technology innovation and leadership,” says Alex Ismail, president and CEO of Honeywell Automation and Control Solutions. “Xtralis’ early smoke detection and advanced security technologies and video analytics software complement our growing Security and Fire business, and show our commitment to making the world safer and more secure.”
Xtralis staffs approximately 500 employees across Europe, Middle East, Africa, Asia Pacific and the Americas, and has more than 30 years of fire and security experience. The transaction is expected to close in the second quarter of 2016 subject to customary closing conditions, including regulatory approvals.
“Xtralis is a fantastic addition to the Honeywell portfolio that strengthens our offering for critical infrastructure and high-value assets,” says David Paja, president, Honeywell Security and Fire. “Eliminating downtime for an IT data center is mission critical considering that the average revenue loss due to a fire or smoke is more than $5 million a week1. The addition of Xtralis to our portfolio enhances our ability to meet the needs of our customers for early and reliable smoke detection.”
The company pioneered the development of technology that can detect smoke in a facility at an early stage of a fire, which gives emergency responders additional time to help prevent or minimize physical damage and injury, according to the press release.
Upon completion of the acquisition, Xtralis will become part of Honeywell Security and Fire, a business unit of Honeywell Automation and Control Solutions.
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