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Honeywell Technologies

Industrial AutomationFounded 1906
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Honeywell Acquisitions

8

Major Deals Covered

$12.8B

Disclosed Deal Value

What are Honeywell's biggest acquisitions?

Honeywell's largest disclosed acquisition here is Elster for $5.1B in 2015. This page covers 8 major deals from 1999 to 2026, each with its price where disclosed and the reason behind it.

Major deals covered
8
Largest deal
Elster ($5.1B)
First deal
1999
Most recent
2026
CompanyYearPricePurpose
AlliedSignal and Honeywell merger1999UndisclosedAlliedSignal, an aerospace and chemicals conglomerate, acquired the smaller Honeywell in a roughly $15 billion stock deal and controversially chose to retain the more recognizable Honeywell name for the combined company.
Pittway Corporation2000$2.2BHoneywell acquired Pittway for $2.2 billion to gain a larger share of the fire-protection and security-systems market.
Intermec2013$600.0MHoneywell acquired supply-chain technology provider Intermec, adding mobile computing, RFID, and barcode/label-printing systems.
Elster2015$5.1BHoneywell acquired gas, electricity, and water meter maker Elster for $5.1 billion, entering the smart-metering business.
Advanced Materials separation2025UndisclosedRather than an acquisition, Honeywell spun off its Advanced Materials business -- refrigerants, building solutions, and specialty chemicals -- as the independent, Nasdaq-listed company Solstice Advanced Materials on October 30, 2025, giving existing Honeywell shareholders one Solstice share for every four Honeywell shares held.
Honeywell Aerospace spin-off2026UndisclosedHoneywell completed the second step of its three-way breakup, separating Honeywell Aerospace Technologies into an independent, separately Nasdaq-listed company in June 2026.
Access Solutions (Carrier Global)2024$5.0BAdded LenelS2, Onity, and Supra access-control and security brands to Building Automation.
Hand Held Products2007UndisclosedHoneywell Technologies acquired Hand Held Products in 2007.
What companies has Honeywell bought?
Major acquisitions by Honeywell documented here include Elster (2015), Access Solutions (Carrier Global) (2024), Pittway Corporation (2000), Intermec (2013) and Honeywell Aerospace spin-off (2026).
What is Honeywell's most recent acquisition?
The most recent Honeywell acquisition documented here is Honeywell Aerospace spin-off, in 2026.

Honeywell Aerospace spin-off

2026

Why

Honeywell completed the second step of its three-way breakup, separating Honeywell Aerospace Technologies into an independent, separately Nasdaq-listed company in June 2026.

Impact

The remaining parent company was renamed Honeywell Technologies and became a pure-play automation business built around Building Automation, Industrial Automation, and Process Automation and Technology.

Outcome

With both the Solstice and Aerospace separations complete, Honeywell Technologies reported a FY2025 pro forma sales base of $19.915 billion for the continuing automation business.

Source →

Advanced Materials separation

2025

Why

Rather than an acquisition, Honeywell spun off its Advanced Materials business -- refrigerants, building solutions, and specialty chemicals -- as the independent, Nasdaq-listed company Solstice Advanced Materials on October 30, 2025, giving existing Honeywell shareholders one Solstice share for every four Honeywell shares held.

Impact

The unit had generated $3.8 billion in net sales in 2024 with about 4,000 employees; separating it was the first of Kapur's three planned breakup steps.

Outcome

Solstice now trades independently under the ticker SOLS, while Honeywell narrowed further toward automation ahead of the subsequent Aerospace spin-off.

Source →

Access Solutions (Carrier Global)

2024

$5.0B

Why

Added LenelS2, Onity, and Supra access-control and security brands to Building Automation.

Impact

The largest piece of roughly $11.5 billion of automation-focused acquisitions completed since 2023.

Outcome

Now part of Honeywell Technologies' Building Automation segment.

Source →

Elster

2015

$5.1B

Why

Honeywell acquired gas, electricity, and water meter maker Elster for $5.1 billion, entering the smart-metering business.

Impact

It was one of Honeywell's largest acquisitions of the decade, extending the company's automation and sensing technology into utility infrastructure.

Outcome

Elster's metering business contributed to Honeywell's broader push toward connected, data-generating industrial hardware that later fed into the Honeywell Forge software platform.

Source →

Intermec

2013

$600M

Why

Honeywell acquired supply-chain technology provider Intermec, adding mobile computing, RFID, and barcode/label-printing systems.

Impact

The roughly $600 million all-cash deal expanded Honeywell's industrial-automation and data-capture offerings for warehouse and logistics customers.

Outcome

Intermec's scanning and mobile-computing technology was folded into what is now Honeywell's Industrial Automation segment.

Source →

Hand Held Products

2007

Why

Honeywell Technologies acquired Hand Held Products in 2007.

Source →

Pittway Corporation

2000

$2.2B

Why

Honeywell acquired Pittway for $2.2 billion to gain a larger share of the fire-protection and security-systems market.

Impact

Combined with Honeywell's existing Home and Building Control business, the deal created an approximately $5 billion global home-and-building-controls operation.

Outcome

Pittway's security and fire-detection technology became part of the building-automation business that Honeywell Technologies still operates today.

Source →

AlliedSignal and Honeywell merger

1999

Why

AlliedSignal, an aerospace and chemicals conglomerate, acquired the smaller Honeywell in a roughly $15 billion stock deal and controversially chose to retain the more recognizable Honeywell name for the combined company.

Impact

The merger created the modern diversified Honeywell, combining AlliedSignal's aerospace and materials businesses with Honeywell's controls and automation lineage.

Outcome

That combined structure lasted more than two decades before CEO Vimal Kapur announced its reversal in 2025, splitting the company back into focused Aerospace, Materials, and Automation businesses.

Source →

Honeywell Technologies's Growth & Acquisition Strategy

Honeywell's growth plan is to concentrate capital on automation. Since 2023 it has spent about $11.5 billion on acquisitions such as Carrier's Access Solutions business, Air Products' LNG process business, Sundyne, Compressor Controls, SCADAfence, Li-ion Tamer, and Johnson Matthey's Catalyst Technologies, while selling lower-fit units (PPE in 2025, WWS and PSS in 2026). Organic growth rests on Building Automation, which posted its seventh straight quarter of high-single-digit growth in Q2 2026, and on layering Forge software and services onto the installed base.

How Honeywell Technologies Makes Money

Honeywell Technologies makes money by selling and servicing automation systems for three end markets. Building Automation sells fire, security, access-control, and building-management systems plus installation and service. Industrial Automation sells sensors, gas detection, and control products. Process Automation and Technology sells distributed control systems, safety systems, and UOP refining, petrochemical, and LNG process technology, earning licensing fees and recurring catalyst revenue. A large installed base generates aftermarket service, upgrade, and Honeywell Forge software revenue, which is higher margin and more stable than new-equipment sales.

Honeywell Acquisitions FAQ

What was Honeywell's landmark $4.95 billion acquisition of Carrier's Access Solutions in 2024?

In June 2024, Honeywell completed the $4.95 billion acquisition of Carrier's Access Solutions business (including leading security brands LenelS2, Onity, and Supra). The acquisition transformed Honeywell Building Automation into a global leader in commercial cloud-based access control and cyber-physical facility security.

Why did Honeywell acquire CAES Systems for $1.81 billion in 2024?

In 2024, Honeywell acquired CAES Systems Holdings LLC from Advent International for $1.81 billion. CAES produces advanced radio frequency (RF) and electronic warfare microelectronics, significantly expanding Honeywell Aerospace Technologies' defense electronics content across major military radar and missile programs.

How did the 2024 acquisition of Civica expand Honeywell's smart building software?

In 2024, Honeywell acquired Civica, a leading public sector software provider, bolstering Honeywell's enterprise software footprint across local government administration, social housing management, and public infrastructure automation throughout the UK and international markets.

What was the strategic importance of acquiring Intelligrated in 2016 for $1.5 billion?

In 2016, Honeywell acquired Intelligrated for $1.5 billion in cash. Intelligrated was a leading provider of automated warehouse material handling, conveyor sorting, and robotics systems, establishing Honeywell's Industrial Automation dominance in e-commerce fulfillment infrastructure.

How did the 2005 acquisition of Novar plc transform Honeywell's building systems?

In 2005, Honeywell acquired UK-based industrial group Novar plc for approximately $1.5 billion, absorbing its market-leading fire alarm, security, and building management systems (including Trend Control Systems), establishing Honeywell as a dominant building technology provider across Europe.

What was the impact of Honeywell acquiring full ownership of UOP in 2005?

In 2005, Honeywell acquired Union Carbide's remaining 50% stake in UOP LLC for $825 million to take 100% full ownership of the business. UOP became the most valuable asset of Honeywell's Energy and Sustainability Solutions, licensing refining technology and manufacturing high-margin catalysts worldwide.

How did the acquisition of Sperry Aerospace Group in 1986 solidify Honeywell's cockpit avionics?

In 1986, Honeywell acquired the Sperry Aerospace Group for $1.03 billion, uniting Honeywell's flight control instrumentation with Sperry's advanced cockpit flight guidance, radar, and electronic flight displays, creating the premier global aerospace avionics supplier.

What strategic criteria guide Honeywell's M&A capital deployment?

Honeywell targets acquisitions that align directly with its three core megatrends (aviation, automation, energy transition), possess high software or recurring aftermarket content, offer strong gross margin profiles, and generate returns on invested capital (ROIC) exceeding cost of capital by year three under the Honeywell Accelerator system.

What companies has Honeywell acquired?

To constantly upgrade their software and automation, Honeywell executes massive buyouts. In 2016, they bought Intelligrated for $1.5 billion to dominate warehouse robotics (competing with Amazon). In 2023, they executed a massive $4.9 billion acquisition of Carrier Global's security and access solutions business to absolutely dominate the "smart building" sector.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.