Reported 8 months ago
Honeywell, under the leadership of CEO Vimal Kapur, is set to acquire CAES Systems, a provider of aerospace and defense technology, for $1.9 billion in an all-cash deal with Advent International. This acquisition aligns with Honeywell's focus on growth in automation, aviation, and energy transition. The deal, expected to close in the second half of 2024, complements Honeywell's offerings for key defense programs and is part of the company's strategic plan to deploy funds for mergers and acquisitions. CAES specializes in electronic systems for aerospace and defense, and the acquisition will bring additional automated facilities and skilled employees to enhance Honeywell's aerospace operations.
Source: YAHOO