Honeywell acquires Satcom1
Honeywell has acquired Denmark-based communications software and satellite communications company Satcom1.
The company says that the acquisition will strengthen its airtime connectivity and in-flight internet offerings.
“Demand for in-flight Internet and Wi-Fi connectivity is rapidly growing and Satcom1 will strengthen Honeywell’s position as a complete provider and integrator of satellite communications equipment, software applications and global airtime services,” said Tim Mahoney, president and CEO of Honeywell Aerospace. “Honeywell is already uniquely placed across the entire value chain of a thriving $8 billion in-flight connectivity segment, making the acquisition of Satcom1 an excellent fit with our business. The addition of Satcom1 significantly bolsters our connectivity portfolio and enhances our growing software engineering expertise. Our customers will benefit from our ability to now offer a complete suite of connectivity solutions, with a much greater global reach.”
Revenues for Satcom1 are expected to be around $25 million in 2015.
“Strengthening Honeywell’s connectivity offerings with the addition of Satcom1 provides existing and future customers access to a full suite of connectivity offerings throughout their aircraft. Together, we will have a worldwide sales and support presence, facilitating customer interactions and improving the ability to provide customers a greater variety of voice and data solutions to meet their growing demand,” said Søren Elmann Ingerslev, chairman of Satcom1.
The acquisition is expected to be completed before the end of 2015.