Minneapolis -- Honeywell announced it has signed a definitive agreement to acquire Hand Held Products Inc., a privately held Automatic Identification and Data Collection (AIDC) company based in Skaneateles Falls, N.Y., for approximately $390 million. Hand Held Products manufactures a range of data collection and communication products designed for mobile, on-site, and transaction processing in retail, healthcare, utilities, transportation, logistics and industry. The agreement is subject to customary closing conditions, including regulatory review.
Hand Held will become a part of Honeywell's Security Group within the Automation and Control Solutions (ACS) business. Hand Held had sales of approximately $285 million in 2006.
Roger Fradin, president and CEO of Honeywell ACS said, "Hand Held's growth potential and strong positions in key vertical markets complement ACS' existing wireless solutions. Hand Held's 'customer first' mentality fits well with our culture. Both cultures value innovation that drives our customers' success."
Hand Held's core products are bar code scanners and rugged mobile, wireless computers that are used for asset-tracking, logistics execution and supply chain management across diverse end markets. The company is perhaps best known in its space for its line of mobile computing and imaging technology used by the U.S. Postal Service, Dillard's and Veterans Administration hospitals.