Honeywell has completed its acquisition of CAES Systems Holdings LLC (CAES) from private equity firm Advent International for approximately USD1.9 billion in an all-cash transaction.
CAES expands Honeywell’s current defense and space portfolio and Honywell will also benefit from the ability to introduce its existing offerings on new platforms, such as the CAES counter-drone technologies. As we reported in June, Honeywell expects this area to grow substantially and create revenue growth for its Aerospace Technologies business.
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