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