Richmond,
Virginia – (November 29, 2005) –
Tridium, Inc. today announced that it has
been acquired by Honeywell (NYSE: HON). The
company will continue to operate as a
separate business entity within
Honeywell’s Environmental and Combustion
Controls (ECC) business. Financial terms
were not disclosed.
“With
Honeywell’s backing, Tridium’s Niagara
Framework® technology will flourish,”
said John Petze, Tridium President &
CEO. “Honeywell is committed to
Tridium’s vision of Niagara as an open
software framework for device-to-enterprise
applications. With their support, Tridium
will be able to accelerate growth and extend
our global reach. We’ll be able to
dramatically expand and enhance our
offerings to better serve our partners and
the original equipment manufacturer market.
We’ll also be able to better meet the
needs of the rapidly growing
machine-to-machine communications
segment.”
Honeywell
will continue to develop and enhance the
Tridium’s offerings to better serve
Tridium’s current customer base and expand
into new areas of machine-to-machine
communication segments.
“By joining
forces, we will be much more effective in
serving both Tridium’s and Honeywell’s
original equipment manufacturer and system
integrator customers,” said Andreas
Kramvis, Honeywell ECC President.
“Honeywell is extremely impressed with
Tridium’s technology, talent and business
model. They have developed a software
platform that cuts through the barriers of
operating multiple systems and devices by
providing easy, real-time communication
between devices in homes, commercial
buildings and industrial applications. We
don’t know of anyone else offering such
cutting-edge device-to-device communications
and data gathering capabilities.”
About
Honeywell ECC
Honeywell ECC
provides a broad range of components,
products, systems and technology tailored
for original equipment manufacturers,
distributors, contractors, and retailers who
provide products and solutions for homes,
commercial buildings and industrial
applications. Honeywell ECC products
are found in more than 100 million homes and
5 million buildings worldwide, providing
control for a wide range of systems and
applications. ECC is a business unit of
Honeywell Automation and Control Solutions (ACS).
For more information, visit www.acs.honeywell.com.
About
Honeywell International
Honeywell
International is a $26 billion diversified
technology and manufacturing leader, serving
customers worldwide with aerospace products
and services; control technologies for
buildings, homes and industry; automotive
products; turbochargers; and specialty
materials. Based in Morris Township, N.J.,
Honeywell’s shares are traded on the New
York, London, Chicago and Pacific Stock
Exchanges. It is one of the 30 stocks that
make up the Dow Jones Industrial Average and
is also a component of the Standard &
Poor's 500 Index. For additional
information, please visit www.honeywell.com.
About
Tridium, Inc.
Tridium, a
global software and technology company, is
the inventor of the Niagara Framework®, a
software framework that integrates diverse
systems and devices - regardless of
manufacturer, or communication protocol -
into a unified platform that can be easily
managed and controlled in real time over the
Internet using a standard web browser.
Niagara is an extensible platform that
supports the rapid development of a wide
range of Internet-enabled products and
device-to-enterprise applications.
Manufacturers
adopt the Niagara Framework technology to
move their products to the web, reduce
development time, migrate legacy systems,
develop new service offerings, and open up
new markets. System integrators use Niagara
products to provide true open solutions
without regard for specific protocols,
products or technologies. Today, there are
over 50,000 instances of Niagara operating
in over 6,000 installations worldwide in
applications that include: energy
management, building automation, M2M,
telecommunications, security automation,
lighting control, maintenance repair
operations (MRO), service bureaus,
convergence retailing and total facilities
management – all realizing improved
operational efficiencies, reduced costs and
greater returns.
Tridium
markets its products to value-added
resellers, original equipment manufacturers
and a network of Tridium Systems
Integrators. The company is an independent
business entity of Honeywell International
Inc.
Contact:
For Tridium
Marc Petock
Director of Marketing
804-747-4771
mpetock@tridium.com
Consummation
of the transaction is subject to certain
customary closing conditions and is expected
to occur during the fourth quarter of 2005.
Terms of the transaction were not disclosed.
This
release may contain forward-looking
statements as defined in Section 21E of the
Securities Exchange Act of 1934, including
statements about future business operations,
financial performance and market conditions.
Such forward-looking statements involve
risks and uncertainties inherent in business
forecasts as further described in our
filings under the Securities Exchange Act.
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