Honeywell has acquired warehouse automation business Transnorm for $492.8 million. Transnorm provides engineered conveyor solutions that efficiently transport products and packages for e-commerce and delivery customers.
Transnorm's material handling solutions will add to Honeywell's intelligrated warehouse automation business and will be part of the company's safety and productivity solutions segment. Honeywell's presence in the warehouse automation market is growing at a rapid pace due to e-commerce.
The transaction is expected to close in early November, subject to customary closing conditions.