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Honeywell Completes Acquisition of Tridium
Secures Multi-Platform Integration Software for Products and Systems
MINNEAPOLIS - (Nov. 30, 2005) - Honeywell (NYSE: HON) announced today that it has acquired Tridium, Inc., a privately held software-development company based in Richmond, Va. with subsidiaries in London and Singapore. Tridium will continue to operate as a separate business entity within Honeywell's Environmental and Combustion Controls (ECC) business. SVB Alliant acted as the exclusive financial advisor to Tridium in this transaction. Financial terms were not disclosed.
"By joining forces, we will be much more effective in serving both Tridium's and Honeywell's original equipment manufacturer and system integrator customers," said Andreas Kramvis, Honeywell ECC President. "Honeywell is extremely impressed with Tridium's technology, talent and business model. They have developed a software platform that cuts through the barriers of operating multiple systems and devices by providing easy, real-time communication between devices in homes, commercial buildings and industrial applications. We don't know of anyone else offering such cutting-edge device-to-device communications and data gathering capabilities."
Tridium invented Niagara Framework(r), a software framework that integrates diverse systems and devices - regardless of manufacturer, communication standard or software - into a unified platform that is managed and controlled in real time over the Internet or intranet using a standard Web browser. System integrators use Niagara to provide solutions without regard for specific protocols, products or technologies. Manufacturers adopt the Niagara Framework technology to move their products to the Web, reduce development time, migrate legacy systems, develop new service offerings, and enter new customer bases.
Current applications include: energy management, building automation, telecommunications, security automation, lighting control, maintenance repair operations service bureaus and total facilities management.
"With Honeywell's backing, Tridium's Niagara Framework technology will flourish," said John Petze, Tridium President & CEO. "Honeywell is committed to Tridium's vision of Niagara as an open software framework for device-to-enterprise applications. With their support, Tridium will be able to accelerate growth and extend our global reach. We'll be able to dramatically expand and enhance our offerings to better serve our partners and the original equipment manufacturer market. We'll also be able to better meet the needs of the rapidly growing machine-to-machine communications segment."
Honeywell will continue to develop and enhance the Tridium's offerings to better serve Tridium's current customer base and expand into new areas of machine-to-machine communication segments. For more information about Tridium visit www.tridium.com
Honeywell International is a $26 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, Chicago and Pacific Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com
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