In a strategic move to enhance its offerings in autonomous operations within the aerospace sector, Honeywell (NASDAQ: HON) has revealed plans to acquire Civitanavi Systems S.p.A. (Civitanavi) (Euronext Milan Exchange: BIT: CNS), a leading provider of high-precision inertial navigation and stabilization solutions.
Honeywell has proposed a voluntary tender offer to purchase all outstanding shares of Civitanavi at a cash price of €6.30 per share, valuing the company at approximately €200 million upon closing.
This acquisition is poised to significantly bolster Honeywell’s capabilities in autonomous aircraft and vehicular operations, aligning with the company’s focus on major industry trends such as the future of aviation and automation. The integration of Civitanavi’s technology with Honeywell’s existing portfolio will offer traditional and emerging aviation operators enhanced autonomous capabilities for their fleets and contribute to advancements in the Advanced Air Mobility (AAM) sector.
Civitanavi is renowned for its expertise in position, navigation, and timing technology, serving the aerospace, defense, and industrial sectors. The company’s advanced Fiber Optic Gyro technology, a new addition to Honeywell’s navigation suite, along with Civitanavi’s inertial navigation, geo-reference, and stabilization systems, will complement Honeywell’s existing navigation and sensors offerings.
Jim Currier, President & CEO of Honeywell Aerospace Technologies, expressed enthusiasm for the acquisition: “Integrating Civitanavi’s advanced inertial technologies and sensors with Honeywell’s platforms will provide our global customers access to a comprehensive suite of navigation solutions. This supports their progression towards fully autonomous operations.”
Currier also highlighted the immediate opportunity to expand Honeywell’s customer base in the European Union through Civitanavi’s solutions, with plans for further expansion. He concluded, “The addition of Civitanavi’s technology and talented team to Honeywell will accelerate the growth of our Aerospace business and support our mission to shape the future of aerospace technology.”
