Honeywell Purchase of Intermec Gets EU Approval
In an announcement, Honeywell Industries, an American conglomerate, has recently received European Union regulatory approval for its acquisition of Intermec, a mobile computing device maker. The said acquisitin was said to be worth US$600 million.
Honeywell produces a myriad of industrial and electronic products, such as cockpit electronics and car turbochargers among others. The deal would boost its market presence in mobile computers as well as automatic data recording equipment.
For its part, Intermec's portfolio of products include barcode scanners and radio-frequency identification (RFID) readers.
According to the European Commission, in its function as competition regulatory authority across the member nations of the European Union, the said deal would not hurt either the consumers or the merging company's rivals.
In a statement, an EU executive said, "The Commission found the transaction would not raise competition concerns, in particular because the merged entity will continue to face several credible competitors in the relevant markets."