Honeywell Boosts IoT Automation Lineup With Acquisition Of Transnorm
Honeywell is giving its Internet of Things automation business a shot in the arm by unveiling plans to acquire warehouse and transportation specialist Transnorm for $493 million.
Honeywell, named on CRN's 2018 10 Coolest Industrial IoT Companies, will leverage Transnorm's automation solutions to improve productivity, speed and accuracy in the IoT and supply chain market, according to Honeywell president and CEO John Waldron.
"Transnorm complements our portfolio of automated material handling equipment and supply chain software to enable us to deliver our vision of the connected distribution center to our customers," said Waldron in a statement. "It also substantially enhances our presence in the European market."
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Harsum, Germany-based Transnorm provides solutions that quickly and efficiently transport products and packages for e-commerce and parcel delivery customers. The company has an installed base of 160,000 units with annual sales of $116 million. Approximately 60 percent of its annual sales are generated in Europe.
Morris Plains, N.J.-based Honeywell said the acquisition strengthens its presence in the warehouse automation market, which is growing at a double-digit pace driven by growth in e-commerce. "Faced with rising e-commerce demands, distribution centers and parcel delivery providers are looking to automation solutions to improve productivity, speed and accuracy," said Waldron.
Honeywell owns a warehouse and logistics business that includes complementary technologies such as voice-directed workflow solutions, advanced mobile computing hardware and software, and FLUX warehouse management software that powers connected distribution centers.
The transaction is expected to close in November.
The Honeywell Performance Partner Program made CRN's 2018 Partner Program Guide: 5-Star Peripherals Vendor list. Transnorm, which has more than 500 employees, will become part of Honeywell's Safety and Productivity Solutions segment.