06:51 AM EDT, 06/20/2024 (MT Newswires) -- Honeywell International ( HON ) has agreed to acquire CAES Systems from private equity firm Advent International for $2 billion in cash, the Wall Street Journal reported Thursday, citing unnamed sources.

The acquisition of CAES Systems, which has 2,000 employees and 13 facilities in North America, will expand Honeywell's ( HON ) defense technology offerings and bolsters its Aerospace Technologies unit, the report said.

The all-cash deal is slated to be announced later in the day, the report added.

Honeywell ( HON ) and Advent did not reply to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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