Honeywell Completes Acquisition of COM DEV International's Space Hardware and Systems Business
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• Global leader in production of space-qualified passive microwave equipment, specialized electronics and optical subsystems that enable satellite communications
• Strong legacy of over 40 years in space, with robust positions in growing small satellite and radio frequency markets
• Established positions in commercial and international satellite programs complement Honeywell's existing Space business
• Strengthens Honeywell's connectivity growth strategy
PHOENIX –Â Honeywell (NYSE: HON) announced that it has completed the acquisition of Ontario, Canada-based COM DEV International (TSX: CDV), a leading satellite and space components provider of switches and multiplexers. The acquisition was announced on Nov. 5, 2015.
"COM DEV extends Honeywell's connectivity push with proven satellite component technologies and access to international customers that align with our current space portfolio and growth strategies," said Tim Mahoney, president of Honeywell Aerospace. "Combined, Honeywell and COM DEV offer commercial and government customers access to one of the broadest space satellite equipment portfolios in the industry."
COM DEV will be part of the company's Defense and Space business and will drive continued growth across Honeywell's connectivity initiatives, benefiting the company's military, civilian and commercial aviation customers. The acquisition complements Honeywell's existing space business and enhances its radio frequency and microwave engineering competencies.
There is no change to Honeywell's 2016 financial guidance as a result of this announcement.
Honeywell Aerospace products and services are found on virtually every commercial, defense and space aircraft, and its turbochargers are used by nearly every automaker and truck manufacturer around the world. The Aerospace business unit develops innovative solutions for more fuel-efficient automobiles and airplanes, more direct and on-time flights, safer flying and runway traffic, along with aircraft engines, cockpit and cabin electronics, wireless connectivity services, logistics, and more. The business delivers safer, faster, and more efficient and comfortable transportation-related experiences worldwide. For more information, visit www.honeywell.com or follow us at @Honeywell_Aero and @Honeywell_Turbo.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.
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CONTACT: Steve Brecken, Honeywell Aerospace, +1 (480) 307-3592, steven.brecken@honeywell.com; or Investor Relations: Mark Macaluso, +1 (973) 455-2222, mark.macaluso@honeywell.com
Web Site: http://www.honeywell.com
