Honeywell strikes US$2 billion deal to buy aerospace and defence firm CAES Systems
HONEYWELL has agreed to buy aerospace and defence technology company CAES Systems for roughly US$2 billion from private equity firm Advent International, The Wall Street Journal reported on Thursday (Jun 20).
The all-cash deal marks Honeywell’s second acquisition in recent months to strengthen its aerospace technologies unit, the newspaper reported, citing people familiar with the matter.
Honeywell and Advent International did not immediately respond to a Reuters request for comment.
CAES, formerly known as Cobham Advanced Electronic Solutions, designs, develops and tests electronics such as antenna systems and communication networks for aerospace and defence companies. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
If Europe goes to war, the fallout will be felt in East Asia
Indonesia stocks suffer worst plunge in nearly 30 years as MSCI proposes standalone status
Vietnam’s race for growth tests pace of energy transition: experts
China’s market is tougher than ever. Where can Singapore firms still find room to grow?
