Honeywell buys Civitanavi Systems – Il Sole 24 ORE | EUROtoday

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Honeywell broadcasts its intention to accumulate the complete share capital of Civitanavi Systems SpA by launching a voluntary public tender provide to accumulate all of the shares
parts of the capital of Civitanavi for a purchase order value of 6.30 euros per share in money (a web asset worth of roughly 200 million euros).
«The acquisition – says a be aware from the US group – will additional strengthen Honeywell's capabilities to assist its clients create gadgets for autonomous flight functions in plane and different automobiles, and can assist the alignment of Honeywell's portfolio round three megatrends, together with the way forward for aviation and automation. Together with Civitanavi, Honeywell will have the ability to provide a broader set of applied sciences to its clients all over the world.”
The purchase price represents a premium of approximately 27.1% over the weighted average trading price of Civitanavi shares in the 30-day period prior to March 26, 2024. Honeywell has already obtained the shareholder commitment controlling company of Civitanavi, which owns approximately 66% of the group's outstanding shares,
to tender their shares to the tender offer.

The group

Civitanavi is a frontrunner in navigation know-how and absolute time references for the aerospace, protection and industrial sectors. Both Civitanavi and Honeywell have a profitable historical past of growing progressive inertial navigation options, able to monitoring a automobile's place and orientation utilizing accelerometers, sensors and gyroscopes. Civitanavi's providing of inertial navigation, geo-referencing and stabilization techniques will complement the applied sciences of Honeywell's current navigation and sensor enterprise. Civitanavi makes a speciality of high-performance fiber optic gyroscope know-how that Honeywell didn’t beforehand provide in its navigation options portfolio.