Honeywell Completes Acquisition of Carrier's Global Access Solutions Business

Honeywell recently announced the completion of its acquisition of Carrier Global Corporation's Global Access Solutions business for $4.95 billion. The deal positions Honeywell as a leading provider of security solutions for the digital age with opportunities for accelerated innovation in the fast-growing, cloud-based services and solutions space. This transaction also strengthens Honeywell's alignment of its portfolio around three compelling megatrends, including automation, and complements Honeywell's Building Automation segment.

The acquisition brings differentiated software capabilities through the addition of three respected brands to Honeywell's portfolio: LenelS2, a leader in commercial and enterprise access solutions; Onity, which offers electronic locks, specifically hospitality access and mobile credentials; and Supra, which specializes in cloud-based electronic lockboxes and scheduling software. Global Access Solutions' approximately 1,200 employees are now part of Honeywell. The transaction is expected to be adjusted earnings per share1 accretive in the first full year of ownership.

Global Access Solutions enhances Honeywell's Building Automation business model of leading with high-value products that are critical for buildings. Honeywell will also benefit from the business's attractive growth and margin profile, valuable software content, and accretive mix of recurring revenue, with forecasted annual sales in excess of $1 billion when combined with Honeywell's existing security portfolio.

"As the world's security needs evolve from a focus on protecting people to protecting both people and critical assets, we see strong growth prospects for our Access Solutions acquisition," said Vimal Kapur, Chief Executive Officer of Honeywell. "By building on our strong track record of delivering high-value building automation products, solutions, and services globally, this acquisition creates an exciting opportunity for us to achieve faster growth and further margin expansion, while generating better outcomes for our Building Automation customers."

Featured

  • Maximizing Your Security Budget This Year

    The Importance of Proactive Security Measures: 4 Stories of Regret

    We all want to believe that crime won’t happen to us. So, some business owners hope for the best and put proactive security measures on the back burner, because other things like growth, attracting new customers, and meeting deadlines all seem more pressing. Read Now

  • Securing the Flow of Operations

    The transportation industry is a complex and dynamic environment where efficient management of physical keys, vehicles and shared devices is critical to ensuring smooth operations, reducing costs and maintaining security. Every day, more transportation facilities are using modern electronic key and asset management systems to better secure, audit and manage the important assets that keep operations running smoothly. Read Now

  • Today's Enterprise

    Protecting servers and data has evolved rapidly over the past 15-plus years. Early on, concerns centered around the environmental conditions of where servers were housed within a building and the effects of humidity, temperature and air quality on their performance. This led to a better understanding of the need for a controlled environment to maximize equipment lifespan and capacity. It was also a driving force behind consolidating servers in a common space, i.e., the data center. Read Now

  • Study Proves It: Security Awareness Training Reduces Phishing Attacks

    Attackers are increasingly targeting human-based vulnerabilities to infiltrate organizations. Humans have direct access to insider systems and data – any threat actor can easily phish users, steal their credentials and secure keys to the kingdom without having to fight advanced cybersecurity defenses. Studies show social engineering attacks and human errors are behind 68% of all breaches.  Read Now

Featured Cybersecurity

Webinars

New Products

  • ResponderLink

    ResponderLink

    Shooter Detection Systems (SDS), an Alarm.com company and a global leader in gunshot detection solutions, has introduced ResponderLink, a groundbreaking new 911 notification service for gunshot events. ResponderLink completes the circle from detection to 911 notification to first responder awareness, giving law enforcement enhanced situational intelligence they urgently need to save lives. Integrating SDS’s proven gunshot detection system with Noonlight’s SendPolice platform, ResponderLink is the first solution to automatically deliver real-time gunshot detection data to 911 call centers and first responders. When shots are detected, the 911 dispatching center, also known as the Public Safety Answering Point or PSAP, is contacted based on the gunfire location, enabling faster initiation of life-saving emergency protocols. 3

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis. 3

  • FEP GameChanger

    FEP GameChanger

    Paige Datacom Solutions Introduces Important and Innovative Cabling Products GameChanger Cable, a proven and patented solution that significantly exceeds the reach of traditional category cable will now have a FEP/FEP construction. 3