Honeywell buys smoke detection business
MELVILLE, N.Y.—Honeywell announced on Feb. 4 it will acquire Xtralis, a smoke detection, security and video analytics company, for $480 million.
Contacted by Security Systems News, Fred Koons, corporate communications director for Xtralis, said the company couldn’t comment beyond saying, “We’re excited to be joining Honeywell, and think it will take Xtralis to the next level.”
Honeywell declined an interview request from SSN. Xtralis’ smoke detectors protect high-profile locations, including critical infrastructures, airports, and data centers, according to the announcement.
Headquartered in Dublin, Ireland, Xtralis has been in business for more than 30 years. It has 500 employees worldwide. The company will become part of Honeywell’s Security and Fire division when the deal is finalized in the second quarter of 2016.
“Eliminating down time for an IT data center is mission critical considering that the average revenue loss due to a fire or smoke is more than $5 million a week,” Honeywell Security and Fire president David Paja said in a prepared statement.
Pacific Equity Partners and Blum Capital Partners acted as advisors for the deal's funding.