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Honeywell to buy CAES Systems for $1.9 billion

Honeywell is in the process off acquiring defence electronics specialist CAES Systems Holdings in an all-cash deal. The transaction is expected to close in the second half of 2024.

CAES, which is based in Virginia, specialises in antennas, radio frequency (RF) technologies and signal management capabilities that are used to build electronic warfare systems, missiles and radar. The company is currently owned by private equity firm Advent International.

Honeywell says the addition of CAES will extend its work on platforms like the F-35, EA-18 Growler, AMRAAM air-to-air missile, GMLERS guided missiles and its SPY-6 naval radar, drone and counter-drone technologies.

 

The acquisition of CAES should add about 2,200 employees, a “deep bench of RF engineering talent” and 13 automated facilities across North America.

“With the integration of CAES’ solutions and capabilities, we will fortify our existing defence offerings, while also expanding our capabilities in pivotal areas like RF, radar and sensing technologies, to ensure a market-leading position in areas that are critical for global security,” said Vimal Kapur, Chairman and CEO of Honeywell.

The CAES buy will be the third proposed acquisition from Honeywell this year, along with the deals for Civitanavi Systems S.p.A and Carrier Global Corporation.


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June 13 2024 1:49 pm V22.4.55-1