September 19, 2013 – Honeywell Scanning & Mobility announces merger with Intermec
Honeywell Scanning & Mobility announced today that it has completed its merger with Intermec to form Intermec by Honeywell.
A press release stated that Honeywell was “thrilled” about the “Honeywell Scanning & Mobility and Intermec merger – two great companies that will be even better together.”
The merger was originally announced in December 2012 with Honeywell International buying Intermec for about $600 million, or $10 per share.
This merger comes after a bit of a rough time for Intermec, having reported a loss of $272.4 million in the third quarter of last year, laying off seven percent of its worldwide workforce, as well as having then-CEO Patrick Byrne leave the company; all of this occurring before the announcement of the merger.
President of Honeywell Scanning & Mobility, John Waldron said, “The acquisition of Intermec will add innovative products and solutions, as well as deep engineering expertise and a broad global sales channel that further demonstrates our commitment to provide our customers an increasing array of innovative technologies in the highly attractive automatic identification and data capture industry.”
The FTC’s approval of the merger has come with a condition. Honeywell will be forced to license patents required for the production in two-dimensional bar code scanners to rival company Datalogic for 12 years due to charges that the merger between Honeywell and Intermec is anti-competitive. With the patents, Datalogic will be able to fill the space in U.S. competition lost by the merger, bringing the total number of companies that specialize in handheld wireless devices for manufacturing, distribution and other applications back up to three.
Honeywell Scanning & Mobility is a leading manufacturer of high-performance image-and laser- based data collection hardware, including rugged mobile computers and bar code scanners. Their product portfolio is one of the broadest in the automatic identification and data collection industry, providing you with solutions for retail, healthcare, and transportation and logistics. Honeywell accomplishes this with advanced software, service and professional solutions that enable customers to effectively manage data and assets.