Honeywell Completes Acquisition Of Intermec

- Honeywell Extends Position in Scanning and Mobile Computing, Now Offers Additional RFID, Printer and Voice Solutions for Wide Range of Customers

- Addition of Intermec Builds on Hand Held Products, Metrologic and EMS Acquisitions To Build Market-Leading Position

- Approximate $600 Million Deal Was Announced in December 2012, Adding Over $800 Million In Annualized Sales

News provided by

Honeywell

Sep 17, 2013, 08:34 ET

FORT MILL, S.C., Sept. 17, 2013 /PRNewswire/ -- Honeywell (NYSE: HON) today announced that it has completed its acquisition of Intermec (NYSE: IN), a leading provider of mobile computing, radio frequency identification solutions (RFID), voice-enabled workflow and data-collection solutions, and printing solutions. Honeywell announced its intent to acquire Intermec in December 2012, in an all-cash transaction valued at approximately $600 million.

"The acquisition of Intermec will add innovative products and solutions, as well as deep engineering expertise and a broad global sales channel that further demonstrates our commitment to provide our customers an increasing array of innovative technologies in the highly attractive AIDC industry," said John Waldron, president of Honeywell Scanning & Mobility.

Intermec will be integrated with Honeywell Scanning & Mobility, within the company's Automation and Control Solutions business. The completion of this acquisition follows the approval by Intermec shareholders on March 19 as well as the receipt of required regulatory approvals in the United States and European Union.

For more information on Honeywell Scanning & Mobility, please visit www.honeywellaidc.com or follow @HoneywellAIDC on Twitter.

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.

Honeywell Scanning & Mobility (HSM) is part of the Automation and Control Solutions (ACS) business group of Honeywell. HSM is a leading manufacturer of high-performance image- and laser-based data collection hardware, including rugged mobile computers and bar code scanners. With one of the broadest product portfolios in the automatic identification and data collection industry, HSM provides data collection hardware for retail, healthcare, and transportation and logistics companies seeking to improve operations and enhance customer service. Additionally, HSM provides advanced software, service and professional solutions that help customers effectively manage data and assets. HSM products are sold worldwide through a network of distributor and reseller partners.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

SOURCE Honeywell