Honeywell to Acquire Optical Gyro Specialist Civitanavi Systems
Honeywell intends to acquire Civitanavi Systems, a provider of position navigation and timing technology for the aerospace, defense, and industrial markets. Honeywell will initiate a voluntary tender offer to acquire all outstanding shares, a transaction worth approximately €200 million ($217.4 million) at closing. The acquisition will strengthen Honeywell's capabilities in autonomous operations in aircraft and other vehicles.
Civitanavi, like Honeywell, has a history of developing inertial navigation solutions. These solutions are used to track the position and orientation of a vehicle by using accelerometers, gyroscopes, and other sensors.
According to Jim Currier, president and CEO of Honeywell Aerospace Technologies, integrating Civitanavi's inertial technologies and sensors across Honeywell's existing commercial, military, space, and industrial platforms will bolster the company’s portfolio of aerospace navigation solutions and allow customers greater support in pursuit of autonomous operations. Civitanavi specializes in high-performance fiber optic gyroscope technology that Honeywell has not previously offered in its navigation portfolio. Honeywell further specified that Civitanavi's product offerings of inertial navigation, geo reference and stabilization systems complement technologies in its existing navigation and sensor business.
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