Honeywell to Acquire Intermec Technologies
The decision was made after Intermec’s board conducted a strategic review of its businesses and determined that Honeywell’s offer was in the best interest of Intermec stakeholders.
“By merging with Honeywell, Intermec will enjoy greater scale and resources to better compete, said Allen Lauer, Intermec chairman and interim CEO. “The combination of our long history of innovation and engineering expertise, global reach and leading products and solutions, with the significant global scale and resources of Honeywell, enables a combined entity that will be at the forefront of this ongoing transformation and position the company as a global leader in the AIDC industry.”
The acquisition is expected to take place in Q2 2013.