Honeywell's Automation and Control Solutions (ACS) division, Minneapolis, has agreed to purchase Lewisville, Texas-based Ultrak Inc.'s CCTV business for $36 million in cash plus the assumption of trade liabilities.

Honeywell will pay Ultrak $30.6 million at closing and the remaining amount in three installments over an 18-month period. The transaction is subject to Ultrak shareholder approval and is expected to close in approximately two to three months.

The sale includes assets and certain liabilities related to Ultrak's CCTV business in the United States, Germany, Italy, Poland, South Africa, Australia, Singapore and the United Kingdom. Approximately 300 of Ultrak's current 520 employees will join Honeywell. In addition, Honeywell has agreed to license the Ultrak name.

Ultrak will retain its access control business, consumer/do-it-yourself business, industrial video-product business, mobile video-product business and alarm-management business.



Govt Security

Cover

SUBSCRIBE

This month in Access Control

Popular Stories

Webinar

Mass Notification Systems

Join AC&SS and ADT as they discuss the crucial role of mass notification systems before, during, and after emergency situations.
March 26 at 2pm ET

Register Now!

Back to Top