Honeywell will acquire Matrikon for approximately USD$142 million, strengthening Honeywell’s position in the manufacturing safety industry.
Matrikon specialises in software that is designed to help industrial manufacturers operate their plants safely, reliably and efficiently.
According to Honeywell, the acquisition will strengthen its position in the high-growth oil and gas and power value chains and increase its global footprint in key regions.
However, the transaction is still subject to approval by Matrikon’s shareowners.
Matrikon will be integrated into Honeywell Process Solutions, which is part of Honeywell’s Automation and Control Solutions business group.
“Our industrial customers want their plants to run well in any economy, and Matrikon’s products help do that,” said Norm Gilsdorf, president of Honeywell Process Solutions.
“Combining Matrikon’s technology and expertise with Honeywell’s industrial platform expands our offering to help customers continue to improve plant performance. This is a great addition to our business.”
Matrikon will bring to Honeywell complementary applications that monitor oil and gas well performance and mining equipment, as well as supply chain solutions for mining. Matrikon’s cyber-security and alarm management solutions also align with Honeywell’s solutions for process safety and security.