Honeywell International (HON) shares rose Thursday as the conglomerate announced it was buying aerospace and defense contractor CAES Systems Holdings from 澳洲幸运5官方开奖结果体彩网:private equity firm Advent International for about $1.9 billion.&꧒nbsp;

Honeywell said the 澳洲幸运5官方开奖结果体彩网:all-cash deal “will enhance Honeywell's defense technology solutions across land, sea, air and space, including new electromagnetic defense solutions for end-to-end radio frequency (RF) signal management.” 

The company added tℱhat the acquisition will boost its established platforms and upgrade positions in several key areas, includi⭕ng work on the F-35 fighter and the Navy’s SPY-6 radar. 

CAES Adds Potential for 'Continued Growth'

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Vimal Kapur said that the addition of CAES will advance Honeywell’s position "at the forefront of the defense industry's most dynamic sectors and sets the tempo for continued growth across our 澳洲幸运5官方开奖结果体彩网:aerospace business.”

CAES has 13 facilities in💙 North America anꦆd employs about 2,200 people. 

Honeywell said that the transaction is expected to be completed in the second half of 2024 and accretive to adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) "in the first full year of ownership."

Shares of Honeywell were up 0.9% as of 1:51 p.m. ET Thursday to ✃$214.73, their highest le🎶vel in almost a year and a half.