MELVILLE, N.Y., March 1, 2016 /PRNewswire/ -- Honeywell (NYSE: HON) announced that it has acquired privately held RSI Video Technologies (RSI), a leading global provider of intrusion detection systems for commercial and residential security applications under the brand Videofied®, for approximately $123 million (€113 million).
RSI's wireless battery-powered motion detectors with built-in cameras deliver live, high-quality video over the cloud to central monitoring stations and end-users. The acquisition enhances Honeywell's ability to meet the increasing global customer need for video verification, and it also brings a unique do-it-yourself (DIY) offering combined with professional monitoring.
"RSI complements Honeywell's industry-leading security portfolio, and brings significant new technology and software that provides added value to our security dealers and channel partners," said Alex Ismail, president and CEO, Honeywell Automation and Control Solutions.
"The industry has been looking for ways to reduce the burden on local law enforcement resources responding to false alarms," said David Paja, president of Honeywell Security and Fire. "RSI helps reduce false alarms by providing cost-effective indoor and outdoor video verification solutions to dealers and central monitoring stations."
Founded in 2000 and based in Strasbourg, France, with key operations in Minnesota, RSI has one of the largest installed bases of video-verified alarm systems in the world, with more than 1 million installations in more than 60 countries. It has approximately 110 employees in France and the U.S.
RSI will become part of Honeywell Security and Fire, a business unit of Honeywell Automation and Control Solutions. Honeywell Security and Fire is a leading global manufacturer of electronic security and life safety technologies for commercial buildings, industrial sites and homes worldwide. With systems installed in millions of buildings and homes worldwide, RSI will benefit from Honeywell's global scale and channels and end-to-end security and fire offerings.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.
This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
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