Sensor giant Honeywell acquires a new sensor company, spending 200 million euros!

Views: 211 Author: 超级管理员 Publish Time: Origin: 本站

Recently, industrial sensor giant Honeywell announced that it will acquire Civitanavi, an Italian supplier 

of fiber optic gyroscopes and inertial navigation technology solutions. Honeywell will launch a voluntary 

tender offer to acquire all issued shares of Civitanavi at a cash purchase price of 6.30 euros per share. 

The acquisition is expected to cost about 200 million euros (about 1.56 billion yuan).


It is understood that Civitanavi is a leader in positioning, navigation and timing technology in the aerospace, 

defense and industrial markets. Civitanavi and Honeywell have successful cases in developing innovative

 inertial navigation solutions that can track the position and direction of vehicles through the use of accelerometers, 

sensors and gyroscopes.


Civitanavi focuses on high-performance fiber optic gyroscope technology, which Honeywell did not previously 

offer in its navigation product portfolio. Therefore, Civitanavi's inertial navigation, georeferencing and stabilization 

system products will greatly supplement the technology of Honeywell's existing navigation and sensor business.


Honeywell believes that Civitanavi's high-precision inertial navigation and stabilization solutions will help drive 

long-term growth in Honeywell's commercial and defense businesses. It also supports Honeywell's alignment of 

its product portfolio around three compelling megatrends, including the future of aviation and automation.


Honeywell said: "By integrating Civitanaavi's inertial technology and sensors into Honeywell's existing commercial, 

military, aerospace and industrial platforms, our customers around the world will now have access to a more 

powerful portfolio of aerospace navigation solutions to support their journey toward autonomous operations."


Regarding the details of the transaction, the purchase price payable by Honeywell at closing represents a premium 

of approximately 27.1% to the 30-day volume-weighted average trading price of Civitanaavi shares as of March 26, 2024 

(the last trading day prior to the announcement of the transaction). In addition, Honeywell has received commitments 

from shareholders holding 66% of Cvitanavi's outstanding shares to acquire their shares.


In terms of operational steps, this transaction is not subject to any financing conditions and is expected to be completed

 in the third quarter of 2024, subject to customary closing conditions, including: receipt of required antitrust approvals; 

receipt of required licenses under foreign direct investment regulations in Italy, the United Kingdom and Canada; 

and acquisition of at least 95% of the issued shares of Civitaavi.


×

Contact Us

captcha
×

Inquire

*Name
*Email
Company Name
Tel
*Message

By continuing to use the site you agree to our privacy policy Terms and Conditions.

I agree