Honeywell Acquires Matrikon

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In an effort to strengthen its position in the oil and gas and power industries, Honeywell announced it is acquiring Matrikon, Inc., a provider of plant operations software, for $142 million.

The deal, which has been unanimously approved by Matrikon’s board of directors, will integrate Matrikon into Honeywell Process Solutions, which is part of Honeywell’s Automation and Control Solutions (ACS) business group. Matrikon specializes in technology that manages production, optimizes operations, and monitors assets at industrial plants, including oil and gas, refining, energy, power, and mining companies. The company’s products include condition-based equipment monitoring and security tools, control room and alarm management, material management and compliance reporting, and regulatory reporting. Matrikon is also a supplier of OPC connectivity products, with a collection of more than 500 interfaces for OPC servers, clients, and historians, Matrikon said.

“Our industrial customers want their plants to run well in any economy, and Matrikon’s products help do that,” said Norm Gilsdorf, president of Honeywell Process Solutions, in a statement. “Combining Matrikon’s technology and expertise with Honeywell’s industrial platform expands our offering to help customers continue to improve plant performance. This is a great addition to our business.”

Matrikon, based in Edmonton, Alberta, Canada, has offices throughout North America, Asia, Australia, New Zealand, Europe, and the Middle East. In addition to a global network, Matrikon will bring to Honeywell complementary applications that monitor oil and gas well performance and mining equipment, as well as supply chain solutions for mining. Matrikon’s cyber-security and alarm management products also align with Honeywell’s solutions for process safety and security, the companies said.

“We believe that the path we embarked on with our next-generation technology and our product and solution strategy blends well with Honeywell’s technology vision,” said Matrikon President and CEO Nizar J. Somji, in a statement. “This will enable our talented workforce to continue to realize global opportunities for large-scale solution deployments and will provide the foundation to support our vision of long-term technology partnerships with customers.”