Honeywell wraps up Genesis Cable purchase
SYOSSET, N.Y. - Honeywell announced in early July that it completed its acquisition of Genesis Cable, a manufacturer of low-voltage cable that the company already owned a 30 percent stake in.
Buying the remaining 70 percent interest in Genesis Cable, a Pleasant Prairie, Wis., company, provides Honeywell with full-ownership of the company. The purchase price was not released.
The purchase is considered a strategic move for Honeywell. Numerous security products, from video and access control to burglar alarms and thermostats, rely on low-voltage cable. It is also in-line with steps taken by other security product manufacturers. For example, GE Security, a competitor, already owns two cable manufacturers - Fiber Options and International Fiber Systems.