Honeywell Announces Acquisition Of MES Software Provider POMS Corporation
PHOENIX and HERNDON, Va.--(BUSINESS WIRE)--Dec. 3, 1999--
Move Is Part Of A Broader Honeywell Initiative To Deliver
Solutions To Pharmaceutical And Consumer Packaged Goods Industries
Honeywell (NYSE:HON) and POMS Corporation today announced the signing of a definitive agreement for the acquisition of POMS Corporation by Honeywell. Terms of the agreement were not announced.
POMS, a leading provider of Manufacturing Execution System (MES) software to the pharmaceutical and consumer packaged goods industries, will become a business entity within Honeywell Hi-Spec Solutions, the leading provider of Unified Manufacturing(tm) Solutions for Business Optimization to the process industries.
The POMS addition significantly strengthens Honeywell's existing offerings for the pharmaceutical and consumer packaged goods industries. The combination provides one comprehensive solution for product development, process and environmental control, production management and business optimization. With this Unified Manufacturing solution, pharmaceutical and consumer packaged goods companies will enjoy benefits of:
-- A single source for process and production management solutions
-- Extensive and proven industry expertise
-- Global presence with extensive resources and support.
With the acquisition of POMS, Honeywell is building on its strategy to extend its capabilities in the pharmaceuticals and packaged goods industries to address the entire product life cycle, from product development through manufacturing and packaging operations. This single-source solution is an essential component to successful e-business supply chains, providing manufacturers with agility and flexibility in product development and manufacturing operations. Integration of the POMS products into the full Honeywell solution is facilitated through advanced use of Microsoft-compliant technologies by both companies.
"We're excited about having POMS become part of the Hi-Spec Solutions family," said Russel McMeekin, Vice President of Honeywell Hi-Spec Solutions. "This is an important strategic addition for us, as it enhances our capabilities at the MES level. POMS will complement and broaden Honeywell's existing suite of Unified Manufacturing Solutions for industries subject to compliance regulation by agencies such as the FDA. We chose POMS because they lead MES suppliers in business vision, product innovation, momentum, and ability to execute."
McMeekin added, "The merger of Honeywell with Allied Signal positions us to be a leading provider of integrated solutions to many key industry segments, including the healthcare products and consumer packaged goods market. Honeywell expects the market for MES applications in these industries to grow approximately 30% through 2005 to more than $1.3 billion. With the acquisition of POMS, we can now more aggressively meet the requirements of these markets. POMS has experienced year-over-year revenue growth in excess of 50% for each of the last three years."
"We believe that the POMS business will continue to grow more rapidly than the market," he said. "Additionally, we look for specific synergies in a number of our related manufacturing and automation businesses."
Curt Grina, CEO and President of POMS Corporation, said, "Our emphasis on delivering value to our customers, along with our current product plans and vision, fit perfectly with Honeywell's initiative and Hi-Spec Solutions' customer business optimization strategy. Combining POMS execution products (POMS MES, POMS CMS) and e-products (POMS ePIC, POMS eSPEC, and POMS eKPI) with Honeywell's Unified Manufacturing Solutions and broad capabilities provides unmatched global presence and ability to execute, and a completeness of customer solution unparalleled in the industry. It solidifies our goal of offering a world-class business solution and being the clear choice for developing long-term partnerships with global customers."
The acquisition is subject to customary conditions and is expected to close by the end of 1999. |
