Honeywell announced on Thursday that it has entered into an agreement to acquire Xtralis, a global provider of aspirating smoke detection along with advanced perimeter security technologies and video analytics software, for $480 million.
Xtralis aspirating smoke detection solutions protect many Fortune 500 companies, as well as iconic sites and critical infrastructures worldwide. The company pioneered the development of very early warning technology that can detect smoke in a facility at an early stage of a fire, which gives emergency responders additional time to help prevent or minimize physical damage and injury.
Xtralis is headquartered in Dublin, Ireland, with approximately 500 employees across Europe, the Middle East, Africa, Asia Pacific and the Americas, and has more than 30 years of fire and security experience. The transaction is expected to close in the second quarter of 2016 subject to customary closing conditions, including regulatory approvals.
Upon completion of the acquisition, Xtralis will become part of Honeywell Security and Fire, a business unit of Honeywell Automation and Control Solutions.
"This acquisition fits perfectly with Honeywell's technology innovation and leadership," said Alex Ismail, president and CEO of Honeywell Automation and Control Solutions. "Xtralis' early smoke detection and advanced security technologies and video analytics software complement our growing Security and Fire business, and show our commitment to making the world safer and more secure."
"Xtralis is a fantastic addition to the Honeywell portfolio that strengthens our offering for critical infrastructure and high-value assets," said David Paja, president, Honeywell Security and Fire. “The addition of Xtralis to our portfolio enhances our ability to meet the needs of our customers for early and reliable smoke detection."
