Diversified technology company Honeywell International Inc HON, recently announced the acquisition of RSI Video Technologies (RSI), provider of intrusion detection systems for commercial and residential security applications for approximately $123 million. RSI will become a part of Honeywell Security and Fire, a business unit of Honeywell Automation and Control Solutions.
RSI specializes in wireless battery-powered motion detectors with built-in cameras under the brand Videofied. This will enable Honeywell's dealers and central monitoring stations to reduce false alarms by providing cost-effective indoor and outdoor video verification solutions. RSI's systems deliver video content to users and base stations over the cloud. With the systems already installed in millions of buildings and homes globally, Honeywell will benefit by integration with its global channels and end-to-end security and fire offerings.
The Videofied technology will also help in reducing responses to false alarms by local law enforcement agencies through its video verification solutions. There is a growing demand for video verification services globally and this acquisition is expected to help Honeywell in augmenting its revenues going ahead
Honeywell is a global diversified technology and manufacturing company with a wide range of aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation.
Honeywell currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look include Macquarie Infrastructure Corporation MIC and NeoPhotonics Corporation NPTN carrying a Zacks Rank #1 (Strong Buy), along with Barloworld Ltd BRRAY carrying a Zacks Rank #2 (Buy).
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