Honeywell acquiring 25% stake in FLUX Information Technology, forming JV
Honeywell announced it has signed an agreement to acquire a 25% ownership interest in FLUX Information Technology, a provider of warehouse management and related supply chain software in China. Honeywell will also form a new joint venture company with FLUX's founder to serve customers outside China. Honeywell will hold a 75% stake in the new joint venture, which will initially focus on opportunities in the Asia Pacific region. The investment in FLUX is expected to close by the end of the fourth quarter pending Chinese regulatory approvals. Li Ning, president of Honeywell SPS Greater China & India, said, "This partnership will allow Honeywell to accelerate the pace of executing our connected strategy in China and the Asia-Pacific region and create a win-win situation for both companies. This agreement strengthens our position as a software-industrial company and supports our efforts in developing and acquiring capabilities in China that are relevant for a global customer base."