Honeywell Completes Acquisition Of Hand Held Products, Inc.
December 20, 2007 - Honeywell (NYSE: HON) today announced it has completed the acquisition of Hand Held Products, Inc., a privately held Automatic Identification and Data Collection (AIDC) company, for approximately $390 million. Hand Held will become a new line of business, called Honeywell Imaging and Mobility, within Honeywell's Security Group.
"This is a great investment for Honeywell. Hand Held significantly strengthens and broadens Honeywell's portfolio, particularly in wireless innovation and the high-growth data collection and communication space," said Ben Cornett, President of Honeywell Security. "Hand Held is poised for growth, with strong positions in key vertical markets that complement ACS's existing technology and solutions."
"Becoming part of Honeywell begins a new and exciting chapter for Hand Held," said Kevin Jost, President, Honeywell Imaging and Mobility business. "By joining one of the world's leading technology companies, we will be able to deliver greater value and a more comprehensive offering of world-class solutions to our customers."
Honeywell International is a $34 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com.
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