Honeywell Set To Acquire EMS Technologies

According to new reports, Honeywell International is going ahead with its proposed acquisition of EMS Technologies, an Atlanta-based mobile-computer manufacturer.

This move by the company is believed to be aimed at expanding its stake in the mobile-computing market, as well as pushing these services aggressively into the port and warehousing segments.

The financial terms of the deal have been reported to be approximately $491 million.

"Honeywell is uniquely positioned to acquire EMS due to the strategic fit across EMS's Global Resource Management and Aviation divisions," said Chairman and Chief Executive Dave Cote, Chairman and Chief Executive of Honeywell, The Wall Street Journal reports.

"The acquisition brings engineering expertise, differentiated technologies, global reach and profitable adjacent segments that build upon our great positions in good industries and enhance our growth profile," he added.

Earlier in April, EMS Technologies revealed that it was receiving offers from potential purchasers, and in May it reported a significant increase in its overall earnings due to a 18 percent rise in sales.

Honeywell is expected to finish the transaction process of this new acquisition sometime during the third quarter of 2011.