Honeywell reaches agreement to sell Honeywell Technology Solutions (HTSI) to KBR

Honeywell has reached a definitive agreement to sell Honeywell Technology Solutions Inc. (HTSI), a global provider of professional space, security, logistics and manpower services in the Government Services market, to KBR for approximately US$300m. The transaction, which is subject to customary closing conditions and required regulatory approvals, is expected to close in 2016. HTSI is a wholly owned subsidiary of Honeywell Aerospace, with approximately 3,550 employees operating throughout 39 states and in 14 countries around the world. The company’s customers primarily consist of U.S. government agencies, including the Department of Defense and its Navy, Air Force, Army and Marine Corps branches. Annual estimated revenues for HTSI are approximately US$600m. KBR is a U.S.-based global technology, engineering, procurement and construction company that primarily serves the government services and other industries.