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Honeywell Closes Buy of Space Hardware Maker Com Dev; Tim Mahoney Comments

acquisitionHoneywell (NYSE: HON) has completed its purchase of spacecraft and satellite equipment producer Com Dev International through an approximately $345 million transaction.

Tim Mahoney, president of Honewell’s aerospace segment, said Thursday the acquisition is part of a push to bolster the company’s satellite connectivity efforts and grow its satellite technology offerings for the government and commercial sectors.

Com Dev, headquartered in Canada, manufactures specialized communications satellite electronics, microwave equipment and optical subsystems.

Morris Planes, New Jersey-based Honeywell will integrate Com Dev into its defense and space business and has not changed its fiscal year 2016 guidance following the purchase.

Honeywell’s aerospace segment builds aircraft cockpits, engines and cabin electronics and fuel-efficiency technology for aircraft and cars as well as provide wireless connectivity and logistics services.

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