Intermec, a provider of data capture and information management solutions, announced that an agreement is in the works in which technology and manufacturing firm Honeywell International will acquire Intermec for $600 million.
The deal was announced in a press release, which states that under the agreement Honeywell will acquire all outstanding common shares of Intermec for $10 per share in cash.
“The agreement with Honeywell not only maximizes value for our stockholders, it combines our history of innovation and engineering expertise, global reach and leading products and solutions with the significant global scale and resources of Honeywell,” said Allen J. Lauer, Intermec Chairman and Interim CEO in the release.
The release also said that the transaction, once approved by Intermec stockholders, “is expected to close by the end of the second quarter 2013.”
Erin Lynch is the associate editor at Multichannel Merchant. Erin can be reached by emailing her at [email protected]. You can also follow her on Twitter at @LynchMCM or on LinkedIn.