Honeywell division to acquire gas detection firm
NORTHFORD, Conn.—Honeywell’s Golden Valley, Minn. business announced recently that it will buy a global gas-detection firm based in California, according to a company statement.
The company plans to purchase San Jose, Calif.-based RAE Systems for about $340 million, though the acquisition is still subject to regulatory approval, according to the report.
Once the acquisition is complete, RAE will be incorporated into the gas-detection portfolio of Honeywell Life Safety, based here.
RAE generates about $107 million annual sales making handheld and stationary gas and radiation detectors and software for governments, emergency response teams, and corporations and factories, the report said. Founded in 1991, the company has 750 employees.
“Their strong presence in hazardous material, first responder and government complements our existing business very well,” Honeywell Life Safety CEO Mark Levy said in the statement.
Honeywell International, which was founded in and run from Minnesota until 1999, is based in Morris Township, N.J. It still has substantial manufacturing and research operations in Minnesota, in Golden Valley, Minneapolis, Plymouth and Coon Rapids.