SHELBY,Honeywell will acquire Shelby-based Invensys plc in an all-cash deal worth $41.5 million, the companies announced Monday morning.
Invensys (LSE: ISYS) provides sensors and controls used in a wide variety of medical, aerospace, automotive and consumer appliances as well as for other applications. Invensys employs 2,700 people and has 13 manufacturing facilities in six countries.
Honeywell’s (NYSE: HON) Automation and Control Solutions division will incorporate Invensys, the company said.
Invensys Chief Executive Officer Rick Haythornwaite said the decision was made to sell to Honeywell after an internal strategy review at Invensys.