The Fortune 100 company Honeywell has agreed to acquire Xtralis, for $480m. a leading global provider of aspirating smoke detection along with advanced perimeter security and video analytics software, for $480m from funds advised by Pacific Equity Partners and Blum Capital Partners.
Xtralis makes aspirating smoke detection and perimeter security products and video analytics software, as used in data centers, historical buildings, airports, industrial sites and factories to provide warning and verification of threats.
Alex Ismail, president and CEO of Honeywell Automation and Control Solutions, said: “This acquisition fits perfectly with Honeywell’s technology innovation and leadership. 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 based in Dublin, with about 500 employees across Europe, 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.
David Paja, president, Honeywell Security and Fire, said: “Xtralis is a fantastic addition to the Honeywell portfolio that strengthens our offering for critical infrastructure and high-value assets. Eliminating downtime for an IT data center is mission critical considering that the average revenue loss due to a fire or smoke is more than $5 million a week1. The addition of Xtralis to our portfolio enhances our ability to meet the needs of our customers for early and reliable smoke detection.”
Upon completion of the acquisition, Xtralis will become part of Honeywell Security and Fire, a business unit of Honeywell Automation and Control Solutions.
