OCTOBER 16, 2007-- Honeywell (Minneapolis, MN, USA) has signed a definitive agreement to acquire Hand Held Products, a privately held automatic identification and data collection company based in Skaneateles Falls, NY, USA, for approximately $390 million. Hand Held Products manufactures a range of data-collection and communication products designed for mobile, onsite, and transaction processing in retail, health-care, utilities, transportation, logistics, and industry. The agreement is subject to customary closing conditions, including regulatory review. Hand Held will become a part of Honeywell's Security Group within the automation and control solutions business. Hand Held had sales of approximately $285 million in 2006.
Hand Held's core products are barcode scanners and rugged mobile, wireless computers that are used for asset tracking, logistics execution, and supply-chain management across diverse end markets. The company is perhaps best known for its line of mobile computing and imaging technology used by the US Postal Service, Dillard's, and US Veterans Administration hospitals.
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, NJ, USA, 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, visit www.honeywell.com.