Honeywell signs Matrikon acquisition agreement

Honeywell, a manufacturer of aerospace products and services, has announced that it has signed an agreement valued at approximately $142m (£95m) to acquire Matrikon, a provider of plant-safety software, subject to approval by Matrikon’s shareowners.

Matrikon will be integrated into Honeywell Process Solutions, part of Honeywell’s Automation and Control Solutions business group.

The company will bring to Honeywell complementary applications that monitor oil and gas well performance and mining equipment, as well as supply chain solutions for mining.