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04 Feb 16. Honeywell Acquires Xtralis, A Leader of Early Fire and Intrusion Detection Technologies. Honeywell (HON) has entered into a definitive agreement to acquire Xtralis, a leading global provider of aspirating smoke detection along with advanced perimeter security technologies and video analytics software, for $480m from funds advised by Pacific Equity Partners and Blum Capital Partners.
Xtralis aspirating smoke detection solutions protect many Fortune 500 companies, iconic sites and critical infrastructures worldwide. They are used in data centers, historical buildings, airports, industrial sites and manufacturing facilities to provide very early warning and verification of threats to speed response time and minimize facility damages and potential injuries.
“This acquisition fits perfectly with Honeywell’s technology innovation and leadership,” said Alex Ismail, president and CEO of Honeywell Automation and Control Solutions. “Xtralis’ early smoke detection and advanced security technologies and video analytics software complement our growing Security and Fire business, and show our commitment to making the world safer and more secure.”
The company is headquartered in Dublin, Ireland, with approximately 500 employees across Europe, Middle East, Africa, Asia Pacific and the Americas, and has more than 30 years of fire and security experience. The transaction is expected to close in the second quarter of 2016 subject to customary closing conditions, including regulatory approvals.
“Xtralis is a fantastic addition to the Honeywell portfolio that strengthens our offering for critical infrastructure and high-value assets,” said David Paja, president, Honeywell Security and Fire. “Eliminating downtime for an IT data center is mission critical considering that the average revenue loss due to a fire or smoke is more than $5m a week1. The addition of Xtralis to our portfolio enhances our ability to meet the needs of our customers for early and reliable smoke detection.”
The company pioneered the development of very early warning technology that can detect smoke in a facility at an early stage of a fire, which gives emergency responders precious additional time to help prevent or minimize physical damage and injury.
Upon completion of the acquisition, Xtralis will become part of Honeywell Security and Fire, a business unit of Honeywell Automation and Control Solutions. Honeywell Security and Fire is a leading global manufacturer of electronic security and life safety technologies for commercial buildings, industrial sites and homes worldwide.
1 Source: Aberdeen Group, “Datacenter Downtime: How Much Does It Really Cost?”, March 2012. (Source: Yahoo!/PRNewswire)
04 Feb 16. Esterline Reports Fiscal 2016 First Quarter Results. Esterline Corporation (NYSE: ESL) reported results for the first fiscal quarter, ended January 1, 2016. During the quarter, the company reported consolidated revenue of $441.5m, a decline of 12.5% compared with the year-ago period of $504.6m. Lower revenue compared with the prior year was primarily attributable to lower end-market demand, shipment and production delays as a result of ongoing integration efforts and an unfavorable impact from foreign exchange rates. These factors were partially offset by the incremental contribution from the defense, aerospace and training businesses (DAT) acquired from Barco N.V. in January of 2015.
All comparisons to the prior year period are being made to a recast fiscal 2015 that reflects the company’s new fiscal calendar. The recast first quarter of fiscal 2015 includes an extremely strong October 2014 that was also the last month in the 2014 fiscal year.
Earnings from continuing operations in the fiscal