Honeywell To Acquire Component Maker Com Dev

摘要

Satellite component builder Com Dev of Canada on Nov. 5 said it had agreed to be sold to Honeywell International Inc. of the United States for 455 million Canadian dollars ($345 million) net of debt and cash in a deal that will result in the spinoff to shareholders of Com Dev's exactEarth satellite maritime surveillance business. The transaction occurs on the eve of what could be a major boost in business for Cambridge, Ontario-based Com Dev if it succeeds in winning a contract with OneWeb Ltd., a startup company planning to build 900 low-orbiting Internet delivery satellites.