HONEYWELL ACQUIRES SPARKMETER'S DATA PLATFORM AND SOFTWARE TECHNOLOGIES TO STRENGTHEN ITS PORTFOLIO OF UTILITY SOLUTIONS

Rhea-AI Summary

Honeywell (NASDAQ: HON) announced the acquisition of three utility platforms from SparkMeter, Inc., expanding its Smart Energy portfolio. The acquired platforms include Praxis (data analytics platform), GridScan (grid performance monitoring software), and GridFin (financial management application).

The integration enhances Honeywell Forge Performance+ for Utilities, providing advanced tools for grid modernization and asset optimization. This tuck-in acquisition follows Honeywell's strategic transformation, including planned spin-offs of Aerospace Technologies and Solstice Advanced Materials businesses, and approximately $14 billion in recent accretive acquisitions.

Positive

• Strategic expansion of Smart Energy portfolio with three advanced utility platforms
• Enhancement of existing Honeywell Forge Performance+ capabilities
• Part of larger strategic transformation including $14B in accretive acquisitions
• Strengthens Honeywell's position in the growing utility solutions market

Negative

• Financial terms of the SparkMeter acquisition not disclosed
• Integration costs and timeline not specified

Insights

M&A and Utilities Technology Analyst

Honeywell's acquisition of SparkMeter's utility platforms strengthens its data analytics capabilities amid increasing global energy demand.

Honeywell's tuck-in acquisition of SparkMeter's three utility platforms represents a strategic enhancement to its Smart Energy portfolio, particularly its Honeywell Forge Performance+ for Utilities offering. The acquired technologies—Praxis, GridScan, and GridFin—collectively provide Honeywell with advanced data analytics, grid monitoring, and financial management capabilities specifically designed for utility operations.

This acquisition follows Honeywell's broader corporate restructuring strategy, which includes planned spin-offs of its Aerospace Technologies and Solstice Advanced Materials businesses. The move aligns with Honeywell's pattern of strategic acquisitions totaling approximately $14 billion since June 2023, including companies like Compressor Controls Corporation, SCADAfence, and several others across various industrial segments.

The timing is particularly strategic as utilities globally face increasing pressure to modernize aging infrastructure amid rising energy demands and grid complexity. The integration of SparkMeter's technologies addresses critical pain points for utility operators: grid intelligence, asset optimization, and financial performance management. By enhancing its data-driven offerings, Honeywell is positioning itself as a more comprehensive solution provider in the utility space.

Utilities are increasingly seeking integrated platforms that can transform operational data into actionable business intelligence—precisely what these acquired technologies deliver. The move strengthens Honeywell's competitive position against both traditional industrial competitors and newer technology-focused entrants in the utility solutions market. While this represents a relatively small tuck-in acquisition compared to Honeywell's overall $14 billion acquisition activity, it's a significant capability enhancement for their utility-focused offerings.

Expands Honeywell's Smart Energy Portfolio and Builds on Existing Capabilities of Honeywell Forge Performance+ for Utilities

CHARLOTTE, N.C., Aug. 20, 2025 /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced the expansion of its Smart Energy portfolio with the tuck-in acquisition of three utility platforms from SparkMeter, Inc., a provider of leading grid management solutions for utilities. The acquisition includes intellectual property as well as certain related assets from SparkMeter.

The integration of these grid intelligence technologies from SparkMeter significantly enhances Honeywell Forge Performance+ for Utilities, enabling the delivery of scalable, data-driven solutions designed to modernize grid infrastructure and address the increasing demand for energy.

The platforms Honeywell is acquiring include:

• Praxis, a data platform designed to deliver insights and analytics that help utilities modernize, maximize, and monetize their assets.
• GridScan, a software application that provides simple and immediate visibility into the operational performance and health of distribution grids.
• GridFin, a financial management application that analyzes and manages energy supply costs, optimizes customer rates, and improves overall financial performance.

"As the demand for energy continues to grow, utilities are facing new challenges that can impact their ability to quickly and efficiently modernize their infrastructure to meet these needs," said Amol Motivala, president, Honeywell Smart Energy. "By combining these SparkMeter technologies with Honeywell Forge Performance+ for Utilities, we will be able to provide our customers with advanced tools that automate, simplify and optimize their daily planning, operations and existing grid assets. The expansion of our smart energy portfolio will ensure our customers can navigate changing energy demands efficiently – allowing for more comprehensive data management, business intelligence and analytics functionality for utilities."

The acquisition follows Honeywell's announcement of the planned spin-offs of its Aerospace Technologies and Solstice Advanced Materials businesses, which will result in three publicly listed industry leaders with distinct strategies and growth drivers. Since June 2023, Honeywell has also announced a number of strategic actions to drive organic growth and simplify its portfolio, including $14 billion of accretive acquisitions: Compressor Controls Corporation, SCADAfence, the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products, Sundyne, Johnson Matthey's Catalyst Technologies Business and Li-ion Tamer. Honeywell also completed the sale of its Personal Protective Equipment business to Protective Industrial Products in May 2025.

About Honeywell:
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company's Advanced Materials business into a stand-alone, publicly traded company and the proposed separation of Automation and Aerospace. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K and other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.

Contacts:
Media	Investor Relations
Stacey Jones	Sean Meakim
(980) 378-6258	(704) 627-6200
Stacey.Jones@honeywell.com	Sean.Meakim@honeywell.com

 

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SOURCE Honeywell International

FAQ

What utility platforms did Honeywell acquire from SparkMeter?

Honeywell acquired three platforms: Praxis (data analytics), GridScan (grid performance monitoring), and GridFin (financial management).

How will the SparkMeter acquisition benefit Honeywell's utility solutions?

The acquisition enhances Honeywell Forge Performance+ by providing advanced tools for grid modernization, asset optimization, and improved data management capabilities.

What is Honeywell's recent acquisition strategy?

Honeywell has made approximately $14 billion in accretive acquisitions since June 2023, including companies like Compressor Controls, SCADAfence, and Sundyne.

What major corporate changes is Honeywell (HON) implementing?

Honeywell is planning to spin off its Aerospace Technologies and Solstice Advanced Materials businesses, creating three separate public companies.

How does the SparkMeter acquisition align with Honeywell's business strategy?

The acquisition aligns with Honeywell's strategy to expand its Smart Energy portfolio and enhance its utility solutions capabilities through strategic, tuck-in acquisitions.