Honeywell announced it has signed an agreement valued at approximately $142 million to acquire software provider Matrikon Inc. The transaction is subject to approval by Matrikon's shareowners.
Matrikon will be integrated into Honeywell Process Solutions, which is part of Honeywell's Automation and Control Solutions business group.
"Our industrial customers want their plants to run well in any economy, and Matrikon's products help do that," says Norm Gilsdorf, president of Honeywell Process Solutions. "Combining Matrikon's technology and expertise with Honeywell's industrial platform expands our offering to help customers continue to improve plant performance. This is a great addition to our business."
Matrikon will bring to Honeywell complementary applications that monitor oil and gas well performance and mining equipment, as well as supply chain solutions for mining. Matrikon's cyber-security and alarm management solutions also align with Honeywell's solutions for process safety and security.
For more information, visit: http://www.honeywell.com.