Honeywell To Strengthen Building Automation With Latest Acquisition

 

To strengthen its portfolio of business automation solutions, Honeywell will acquire Global Asset Solutions from Carrier Global Corporation. Global Asset Solutions offers digital lock solutions for everything from cloud storage to hotel keys. Honeywell settled on the purchase price of $4.95 billion and is awaiting regulatory approval for the transaction before it is finalized, which is expected by the end of Q3 in 2024.

The sale represents the first step in an asset transition process for Carrier Global Corporation. The company is shifting its focus from fire, security, and commercial refrigeration products to combating climate change with technology. Shedding these markets will allow Carrier to focus more sharply on climate and energy solutions instead.

 

Honeywell’s acquisition of Global Asset Solutions will include three major brands: LenelS2, Onity, and Supra. Image used courtesy of Honeywell

 

Global Asset Solutions

Global Asset Solutions provides hardware and software digital locking equipment for many security applications. The company serves multiple industries, including cloud-based storage platforms, hospitality and tourism management, data processing, and numerous others. 

Currently, Global Asset Solutions has around 1200 employees spread across 33 countries. It holds three major, respected brands (LenelS2, Onity, and Supra) that will now be part of the Honeywell catalog. 

 

LenelS2

LenelS2 is a hardware and software company specializing in access control, video monitoring, cloud security, and other security concerns. They developed systems like BlueDiamond to control who enters offices, hotels, and other controlled spaces via online credentialing. Their systems have served real estate ventures, energy sector control rooms, hotels, and other secure facilities.  

LenelS2 smartphone access control with the BlueDiamond system. Image used courtesy of  LenelS2

 

Onity

Onity is a designer and manufacturer of electronic lock hardware and software—the company's solutions control access to dorm rooms, hotels, office buildings, and so on. Locks can be opened via a keycard, Bluetooth connection, smartphone, or other mechanisms, depending on the specific system.

 

Supra

Supra provides digital lock boxes for holding keys, cards, and valuables. Primarily, Supra serves the real estate industry by allowing a real estate agent to secure the keys at the site of a listed home. When the real estate agent arrives, they can open the box with the proper credentials and access the physical keys to open the house for a potential buyer.

 

Honeywell’s acquisition will strengthen its building automation offerings. Image used courtesy of Adobe Stock

 

Strengthening Building Automation

At first glance, it may be strange that an automation company would acquire digital lock assets. However, one potentially powerful market this will capture is building automation systems. As the demand for "smart" buildings increases, the integration of access control with fire control systems, smart thermostats, and other hardware also grows.

For example, a large office building can regulate the temperature by changing HVAC controls and using feedback from occupancy information. By scanning a card for entry into rooms, the rooms are secure and provide feedback for this system. This is, of course, just one example of what Honeywell can do with its latest acquisition to strengthen its already existing building automation offerings.