HONEYWELL ACQUIRES SPARKMETER'S DATA PLATFORM AND SOFTWARE TECHNOLOGIES TO STRENGTHEN ITS PORTFOLIO OF UTILITY SOLUTIONS

Core Insights - Honeywell has expanded its Smart Energy portfolio through the acquisition of three utility platforms from SparkMeter, enhancing its grid management capabilities [1][2] - The integration of SparkMeter's technologies into Honeywell Forge Performance+ for Utilities aims to modernize grid infrastructure and meet the growing energy demand [2] - This acquisition is part of Honeywell's broader strategy to drive organic growth and simplify its portfolio, which includes $14 billion in recent acquisitions and planned spin-offs of certain business segments [2] Company Overview - Honeywell operates across various industries and geographies, focusing on automation, aviation, and energy transition [3] - The company provides solutions through its Aerospace Technologies, Industrial Automation, Building Automation, and Energy and Sustainability Solutions segments [3] Acquired Technologies - The platforms acquired from SparkMeter include: - Praxis: A data platform for insights and analytics to help utilities modernize and monetize assets [5] - GridScan: A software application for visibility into the operational performance of distribution grids [5] - GridFin: A financial management application for analyzing energy supply costs and optimizing customer rates [5]