Honeywell is to pay $1.9 billion in cash to purchase an aerospace and military firm
On Thursday, Honeywell said that it is buying the aerospace and military business CAES for an all-cash sum of about $1.9 billion.
This purchase «will enhance Honeywell’s defense technology solutions on land, at sea, in the air, and in space, including new electromagnetic defense solutions for end-to-end radio frequency (RF) signal management,» the firm said in a statement.
The US military’s budget has been strained by a number of geopolitical concerns, notably Russia’s invasion of the Ukraine.
Today, the Wall Street Journal says that this is just the beginning for the over $140 billion market capitalization industrial powerhouse.
This marks Honeywell’s second acquisition in recent months to bolster its aerospace technologies unit, which posted year-on-year organic revenue growth of 18% in the first quarter.
