Honeywell Sells Warehouse Automation Division to Private Equity for $1.5 Billion
Aerospace and technology giant Honeywell is selling its warehouse and workflow automation business to private equity firm Thoma Bravo for $1.5 billion. The unit, known as Honeywell Intelligrated, provides robotics, software, and conveyor systems for logistics centers. Honeywell cited market softness and a desire to focus on core businesses as the reason for the divestment. However, Thoma Bravo is betting on the long-term potential of the sector, viewing the current downturn as temporary. The business will be rebranded as a standalone company called Intelligrated, the name it held before Honeywell acquired it in 2016.
Official Source: https://theloadstar.com/honeywell-gives-up-on-the-warehouse-and-private-equity-is-betting-it-shouldnt-have/
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