Deal will help company penetrate global lodging market
Honeywell said earlier this week it has acquired a privately held manufacturer of software-based energy management products and room controls for hotels, health care and educational institutions. Terms were not disclosed.
New Jersey-based Honeywell, whose energy management business is based in Golden Valley, said the acquisition of Inncom will enhance its existing building management control systems offerings and build its customer base in the fast-growing global lodging industry, especially in the Middle East, India and Asia Pacific.
Inncom's current customers including Hilton, Sheraton, Hyatt, St. Regis, Four Seasons, Radisson, and others. Inncom's products are installed in more than 800,000 hotel rooms around the world and another 10,000 rooms in hospitals, colleges and universities and military housing facilities. The Niantic, Conn.-based firm employs 115 people.
Inncom, which has annual revenue of $24 million, markets devices that make guest rooms and common areas "smarter" in terms of energy consumption, according to a Honeywell news release.
"Energy and operational efficiency are key drivers for hotels, hospitals and educational institutions as they seek to reduce their energy costs while ensuring the comfort and security of their guests, patients, and students," said Beth Wozniak, president of Honeywell's Environmental and Combustion Controls division, in a statement.
Janet Moore 612-673-7752