CORRECT: Honeywell to Buy Carrier Security Unit for $5 Billion
- New CEO brokers Honeywell’s biggest acquisition in eight years
- Investors have been pushing company to pursue more deals
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Honeywell International agreed to acquire the security business of Carrier Global Corp. for an enterprise value of about $5 billion, which marks the biggest deal since 2015 for the maker of jet engines and gas detectors.
The acquisition broadens Honeywell’s product offerings in security controls for buildings, which was an area lagging behind the larger market positions the company has in property management systems and fire systems, Honeywell Chief Executive Officer Vimal Kapur said in a Bloomberg TV interview with David Westin.