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Honeywell To Buy Privately Held Sparta Systems For $1.3 Bln In Cash

Honeywell (HON) said Tuesday that it agreed to acquire privately held Sparta Systems for $1.3 billion in an all-cash transaction from New Mountain Capital.

Sparta Systems is a provider of enterprise quality management software, including a next-generation SaaS platform, for the life sciences industry. It is headquartered in Hamilton, N.J., and has about 250 employees globally.

Honeywell expects to close the deal deal by the end of the first quarter of 2021.

Honeywell said it does not change its 2020 financial outlook as a result of the acquisition.

Honeywell noted that it will leverage Sparta's technologies to continue to drive global growth and expand into new market segments, including highly regulated verticals, that require advanced process technologies.

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