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Honeywell to buy aerospace and defense firm CAES Systems for $1.9 bln
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Honeywell to buy aerospace and defense firm CAES Systems for $1.9 bln
Jun 20, 2024 4:30 AM

June 20 (Reuters) - Honeywell ( HON ) has agreed to buy

aerospace and defense technology company CAES Systems for $1.9

billion from private equity firm Advent International, the

company said on Thursday.

The all-cash deal marks Honeywell's ( HON ) second acquisition

in recent months to strengthen its aerospace technologies unit,

amidst a realignment of its business to focus on megatrends such

as automation, aviation and energy transition.

To bolster growth, the company has, in the past few years,

doubled down on mergers and acquisitions to strengthen

high-performing segments, while spinning off units that don't

align with its growth strategy.

Among them, aerospace in particular has lifted the

company's performance due to strong demand for parts from

customers such as Boeing ( BA ) and Airbus, as travel

demand booms.

CAES, formerly known as Cobham Advanced Electronic

Solutions, designs, develops and tests electronics such as

antenna systems and communication networks for aerospace and

defense companies.

The Wall Street Journal first reported the deal on Thursday.

(Reporting by Ananta Agarwal in Bengaluru; Editing by Janane

Venkatraman

)

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