Honeywell to buy software company Sparta Systems for $1.3 billion in cash

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Honeywell International Inc. announced Tuesday a deal to buy privately held software company Sparta Systems for $1.3 billion in cash from New Mountain Capital. “Sparta’s TrackWise Digital(R) and QualityWise.ai(SM) are a welcome addition to Honeywell’s enterprise performance management software, Honeywell Forge, and will further enhance the link between quality and production data for life sciences manufacturers,” said Que Dallara, chief executive of Honeywell Connected Enterprise. The deal is expected to close by the end of the first quarter of 2021. Honeywell said there is no change to its financial outlook as a result of the acquisition. The stock, which inched less than 0.1% lower in premarket trading, has rallied 29.5% over the past three months, while the S&P 500 has gained 11.4%.
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