Optimization: Honeywell buys PAS advanced process control business
Houston, TX —In a move regarded by many as positive, Honeywell has agreed to buy PAS ' Advanced Control & Optimization (APC&O) business. The transaction includes the linear and non-linear controls and optimization technologies and related customer contracts and personnel. Divestiture of these assets, says PAS, will streamline its portfolio and accelerate the development of its alarm management and integrity automation asset configurations management businesses.
Comments on the purchase from analysts and industry observers were highly favorable. Said Tom Fiske, research director at ARC Advisory Group, "From an industry perspective, ARC views this transaction as a positive for everyone involved. End-users will benefit from the long-term PAS and Honeywell partnership, which will facilitate a seamless transfer of ownership to Honeywell and continued support for the technology."
Fiske went on to note that PAS is "gaining traction in a burgeoning market with its alarm management and automation configuration management solutions. PAS benefits from the divestiture by allowing them to concentrate their resources on managing this high-growth business. Honeywell benefits by strengthening their competitiveness in the APC and optimization market."
Calling the sale a strategic move that will sharpen PAS' focus and strengthen its growth, PAS founder and CEO Eddie Habibi said, "Focus defines reality, and our focus is to repeat our 2006 growth rate of 100%+ in the businesses where we hold significant first-to-market advantages."
The acquisition is expected to bolster Honeywell's offerings in the APC&O market, allowing the company, said Jack Bolick, president of Honeywell Process Solutions, to "deliver more meaningful process information to operators and engineers to help them align operations with business objectives."
—Control Engineering Daily News Desk
Edited by Jeanine Katzel , senior editor