Honeywell completed the acquisition of Carrier Global Corporation's Global Access Solutions (GAS) business for US$4.95 billion.

This acquisition bolsters Honeywell's building automation capabilities, positioning the company as a leading provider of security solutions in the digital age.

The acquisition brings respected brands such as LenelS2, Onity, and Supra under Honeywell's portfolio, enhancing its software capabilities in commercial and enterprise access solutions.

Following the acquisition, Honeywell raised its 2024 sales outlook to a range of $38.5 billion to $39.3 billion, up from the previous forecast of $38.1 billion to $38.9 billion.

Skadden, Arps, Slate, Meagher & Flom LLP served as external legal counsel to Honeywell. Simmons & Simmons provided additional legal support. Womble Bond Dickinson also contributed to the legal advisory team.

Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as external legal counsel to Carrier. Linklaters LLP provided additional legal services.