Honeywell to acquire Intelligrated in $1.5B deal
July 5, 2016 by Manufacturing AUTOMATION
Jul. 5, 2016 – Automated material handling solutions provider Intelligrated has entered an agreement to be acquired by Honeywell in a $1.5-billion transaction. The deal is expected to close by the end of the third quarter, subject to customary closing conditions.
Intelligrated will become part of Sensing and Productivity Solutions (S&PS) in Honeywell’s Automation and Control Solutions business.
“As the Cloud, mobility and the Internet of Things redefine how industries work, the acquisition of Intelligrated positions Honeywell S&PS as a leading force to define modern supply chains in the era of omnichannel retail and e-commerce,” said Intelligrated in a statement.
“The Intelligrated story has always been defined by innovation and doing whatever it takes to give our customers a competitive edge,” noted Chris Cole, CEO of Intelligrated. “Joining Honeywell enables us to break new ground with the most advanced levels of systems integration, intelligent software and controls, and data-driven efficiency. Our commitment to innovation and intense focus on customer service and support will continue to deliver unmatched results.”
“E-commerce continues to grow at an unprecedented rate and customer demands for faster delivery times have created a need for warehouse, logistics and fulfillment solutions that can increase productivity and lower costs for our customers,” said Alex Ismail, president and CEO of Honeywell Automation and Control Solutions. “This acquisition fits with our vision for a connected industrial company and a connected worker.”
Intelligrated co-founders Cole and Jim McCarthy will continue to serve in a leadership role, said the parties.