Honeywell completes COM DEV acquisition
ExactEarth spin-off to provide global maritime vessel data for ship tracking.
COM DEV manufactures and sells devices such as transponders used in satellites and satellite ground stations, and their hardware is found on 950 spacecraft and 80 per cent of all commercial communication satellites.
COM DEV also announced the spinoff of exactEart, which has become a standalone public company. ExactEarth is a joint venture with Hisdesat Servicios Estrategicos S.A. and provides global maritime vessel data for ship tracking and maritime situational awareness solutions. The company and its subsidiary employ 1,250 people at facilities in Canada, China, India, the United Kingdom and the United States.
“COM DEV extends Honeywell’s connectivity push with proven satellite component technologies and access to international customers that align with our current space portfolio and growth strategies,” said Tim Mahoney, president of Honeywell Aerospace. “Combined, Honeywell and COM DEV offer commercial and government customers access to one of the broadest space satellite equipment portfolios in the industry.”
COM DEV will be part of Honeywell’s Defense and Space business and compliments Honeywell’s existing space business and enhances its radio frequency and microwave engineering competencies.
“We are pleased to join the Honeywell team,” adds Michael Pley, CEO of COM DEV. “I believe that as a global corporation with extensive market reach and a proven ability to integrate acquisitions, Honeywell will help us realize our ambitious growth plans. I am confident that COM DEV’s customers will benefit from us joining a larger organization that shares our commitment to quality.”