Honeywell Completes Acquisition Of COM DEV International's Space Hardware And Systems Business
July 14, 2016
- Strong legacy of over 40 years in space, with robust positions in growing small satellite and radio frequency markets
- Established positions in commercial and international satellite programs complement Honeywell's existing Space business
- Strengthens Honeywell's connectivity growth strategy
PHOENIX, Feb. 4, 2016 /PRNewswire/ -- Honeywell (NYSE: HON) announced that it has completed the acquisition of Ontario, Canada-based COM DEV International (TSX: CDV), a leading satellite and space components provider of switches and multiplexers. The acquisition was announced on Nov. 5, 2015.
"COM DEV extends Honeywell's connectivity push with proven satellite component technologies and access to international customers that align with our current space portfolio and growth strategies," said Tim Mahoney, president of Honeywell Aerospace. "Combined, Honeywell and COM DEV offer commercial and government customers access to one of the broadest space satellite equipment portfolios in the industry."
COM DEV will be part of the company's Defense and Space business and will drive continued growth across Honeywell's connectivity initiatives, benefiting the company's military, civilian and commercial aviation customers. The acquisition complements Honeywell's existing space business and enhances its radio frequency and microwave engineering competencies.
There is no change to Honeywell's 2016 financial guidance as a result of this announcement.
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