Dover To Sell Datamax O'Neil To Honeywell For $185 Mln

(RTTNews) - Dover Corp. (DOV) said Thursday that it has agreed to sell its Datamax O'Neil unit to Honeywell International Inc. (HON) for $185 million.

The deal is expected to close in the first quarter of 2015.

Headquartered in Orlando, Florida, Datamax O'Neil is a manufacturer of fixed and mobile printers used in a variety of retail, warehouse and distribution, and health care applications, with more than 300 employees globally and major facilities in California, France and Singapore.

After the deal closes, Datamax-O'Neil will become part of Honeywell Scanning & Mobility based in Fort Mill, South Carolina, a business of Honeywell Automation and Control Solutions.

"The addition of Datamax-O'Neil to our portfolio underscores our continued commitment to strengthen the depth of our technology and product offerings in the estimated $1.5 billion global barcode printing segment," said John Waldron, president, Honeywell Scanning & Mobility.

The deal follows Honeywell's 2013 acquisition of Intermec, which essentially doubled the company's revenue in the highly attractive scanning and mobility segment.