“Xtralis is a fantastic addition to the Honeywell portfolio that strengthens our offering for critical infrastructure and high-value assets,” Honeywell Security and Fire president David Paja said in a prepared statement.
Xtralis’s smoke detectors have been used to protect numerous high-profile locations, including critical infrastructures, airports, and data centers, according to the announcement. “Eliminating down time for an IT data center is mission critical considering that the average revenue loss due to a fire or smoke is more than $5 million a week,” Paja said in the release, citing a study from the Aberdeen Group.
Xtralis is headquartered in Dublin, Ireland. In business for more than 30 years, it has 500 employees across Europe, Middle east, Africa, Asia Pacific, and the Americas. The company will become part of Honeywell’s Security and Fire division when the deal is finalized.
Pacific Equity Partners and Blum Capital Partners acted as advisors for the deal’s funding.
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