Deals
Honeywell CEO Shuns ‘Ridiculous’ Deals in Focus on Software
- Darius Adamczyk sees digital business growing 20% a year
- CEO promises to be active, yet patient, regarding acquisitions
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Honeywell International Inc. Chief Executive Officer Darius Adamczyk is eager to buy companies to accelerate expansion of the industrial behemoth’s software business and has $15 billion of cash on hand to do it.
The main obstacle is price, which ranges from expensive to downright “ridiculous,” he said, as rivals and private equity firms capitalize on low interest rates to court software makers. While Adamczyk is confident the software business can grow internally, some analysts wonder if he’s missing out on opportunities.