Honeywell Buying Xtralis For $US480 Million
ACQUISITIONS in the electronic security and fire sector keep rolling through – now Honeywell is to buy aspirating smoke detection and perimeter detection manufacturer Xtralis for $US480 million.
“This acquisition fits perfectly with Honeywell’s technology innovation and leadership,” said Alex Ismail, president and CEO of Honeywell Automation and Control Solutions. “Xtralis’ early smoke detection and advanced security technologies and video analytics software complement our growing Security and Fire business, and show our commitment to making the world safer and more secure.”
“Xtralis is a fantastic addition to the Honeywell portfolio that strengthens our offering for critical infrastructure and high-value assets,” said David Paja, president, Honeywell Security and Fire. “Eliminating downtime for an IT data center is mission critical considering that the average revenue loss due to a fire or smoke is more than $5 million a week. The addition of Xtralis to our portfolio enhances our ability to meet the needs of our customers for early and reliable smoke detection.”
Based in Ireland and with the headquarters of its Fire and Environmental division in Melbourne, Australia, Xtralis has 500 employees across Europe, the Middle East, Africa, Asia Pacific and the Americas. It has been a leader in the field for 3 decades, thanks to its top-selling VESDA smoke detection technology.
The sale price is at the lowest end of expectations – finance industry pundits were expecting between $US500-1 billion when news of a pending sale broke late last year. Upon completion of the acquisition, Xtralis will become part of Honeywell Security and Fire, a business unit of Honeywell Automation and Control Solutions. Xtralis is distributed locally by Hills. ♦