HONEYWELL STRENGTHENS IN-FLIGHT INTERNET, AIRTIME CONNECTIVITY OFFERINGS WITH SATCOM1 AQUISITION
- Company adds communications software, in-flight airtime, satellite communications services for business jets to its existing hardware capabilities and expertise
- Acquisition positions Honeywell as a more complete and global provider of in-flight satellite/connectivity in a growing $8 billion market
- Uniting Satcom1 software and Honeywell hardware capabilities delivers integrated and custom solutions for the connectivity market
- Reliable Internet and Wi-Fi helps pilots fly safer and more efficiently and keeps passengers connected
LAS VEGAS, Nov. 16, 2015 – Honeywell (NYSE: HON) announced that it has signed an agreement to acquire privately-held Satcom1, the leading provider of on board communications routing software and a satellite communications provider of airtime and consulting services. The acquisition positions Honeywell to offer operators a seamless experience with an all-in-one connectivity solution spanning routing software, airtime, hardware equipment, avionics, flight support services and applications. Revenues for 2015 are expected to be approximately $25 million. The transaction is expected to close by the end of 2015.
Satcom1 is the leading provider of routing software that optimizes the in-flight connectivity experience and an existing distribution partner for Honeywell’s JetWave™ terminals and Inmarsat’s GX Aviation program. The company provides in-flight airtime, satellite communications services and software for private business aircraft, and government and head of state aircraft and helicopters. Satcom1’s high-speed solutions provide real-time, reliable Internet and Wi-Fi cockpit communications that help pilots fly more safely and efficiently, and keep passengers connected in the air. Satcom1 also provides consulting services and develops specialized software and networks designed for mission-specific communication needs, such as in combat situations.
“Demand for in-flight Internet and Wi-Fi connectivity is rapidly growing and Satcom1 willstrengthen Honeywell’s position as a complete provider and integrator of satellite communications equipment, software applications and global airtime services,” said Tim Mahoney, president and CEO of Honeywell Aerospace. “Honeywell is already uniquely placed across the entire value chain of a thriving $8 billion in-flight connectivity segment, making the acquisition of Satcom1 an excellent fit with our business. The addition of Satcom1 significantly bolsters our connectivity portfolio and enhances our growing software engineering expertise. Our customers will benefit from our ability to now offer a complete suite of connectivity solutions, with a much greater global reach.”
Satcom1 boosts Honeywell’s already vast Aerospace Services business, which provides flight support services and applications for pilots, operators, jet owners and airlines that span flight planning, weather information, fuel savings, maintenance service plans, health check ups and more. In addition, integrating Satcom1 software with existing Honeywell hardware technologies to design customized next-generation communication and network systems will deliver a stronger connectivity experience to Honeywell customers.
“Strengthening Honeywell’s connectivity offerings with the addition of Satcom1 provides existing and future customers access to a full suite of connectivity offerings throughout their aircraft. Together, we will have a worldwide sales and support presence, facilitating customer interactions and improving the ability to provide customers a greater variety of voice and data solutions to meet their growing demand,” said Søren Elmann Ingerslev, chairman of Satcom1.
Satcom1 is headquartered in Copenhagen, Denmark. The company also operates a research and design and support center at Le Bourget Airport in Paris, and sales and consultancy offices in Dubai, United Emirates and San Antonio, Texas. The acquisition will broaden Honeywell’s presence in Europe and more easily expand Honeywell connectivity offerings around the world.
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Honeywell Aerospace products and services are found on virtually every commercial, defence and space aircraft, and its turbochargers are used by nearly every automaker and truck manufacturer around the world. The Aerospace business unit develops innovative solutions for more fuel efficient automobiles and airplanes, more direct and on-time flights, safer flying and runway traffic, along with aircraft engines, cockpit and cabin electronics, wireless connectivity services, logistics and more. The business delivers safer, faster, and more efficient and comfortable transportation-related experiences worldwide. For more information, visit www.honeywell.com or follow us at @Honeywell_Turbo and @Honeywell_Aero.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.
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This release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
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