Resideo Announces Completion of Transaction with Honeywell To Accelerate Payment of All Potential Monetary Obligations Under Indemnification and Reimbursement Agreement
Resideo Technologies (NYSE: REZI) has finalized a significant transaction with Honeywell International (NASDAQ: HON) to eliminate all future monetary obligations under their Indemnification and Reimbursement Agreement from 2018. The deal involves a one-time cash payment of $1.59 billion to Honeywell, terminating Resideo's obligation to make annual payments of up to $140 million through 2043.
The transaction eliminates all affirmative and negative covenants under the Indemnification Agreement while maintaining other agreements, including Resideo's long-term license to use the Honeywell Home brand.
Resideo Technologies (NYSE: REZI) ha concluso una transazione significativa con Honeywell International (NASDAQ: HON) per eliminare tutte le future obbligazioni monetarie previste dal loro Accordo di Indennizzo e Rimborso del 2018. L'intesa prevede un pagamento unico in contanti di 1,59 miliardi di dollari a Honeywell, ponendo fine all'obbligo di Resideo di effettuare pagamenti annuali fino a 140 milioni di dollari fino al 2043.
La transazione elimina tutte le pattuizioni positive e negative presenti nell'Accordo di Indennizzo, mantenendo tuttavia in vigore gli altri accordi, inclusa la licenza pluriennale di Resideo per l'uso del marchio Honeywell Home.
Resideo Technologies (NYSE: REZI) ha cerrado una operación significativa con Honeywell International (NASDAQ: HON) para eliminar todas las obligaciones monetarias futuras derivadas de su Acuerdo de Indemnización y Reembolso de 2018. El acuerdo contempla un pago único en efectivo de 1.590 millones de dólares a Honeywell, poniendo fin a la obligación de Resideo de realizar pagos anuales de hasta 140 millones de dólares hasta 2043.
La operación suprime todas las cláusulas afirmativas y negativas del Acuerdo de Indemnización, si bien mantiene otros acuerdos, incluida la licencia a largo plazo de Resideo para usar la marca Honeywell Home.
Resideo Technologies (NYSE: REZI)는 Honeywell International (NASDAQ: HON)과의 중대한 거래를 마무리했습니다. 이 거래로 2018년에 체결된 보상 및 상환 계약에 따른 모든 향후 금전적 의무가 제거됩니다. 합의는 Honeywell에 대한 일회성 현금 지급 미화 15억9000만 달러를 포함하며, Resideo가 2043년까지 매년 최대 1억4000만 달러를 지급해야 하는 의무를 종료합니다.
이번 거래로 보상 계약상의 모든 적극적·소극적 약정이 해소되지만, Resideo가 Honeywell Home 브랜드를 장기간 사용할 수 있는 라이선스 등 다른 계약들은 유지됩니다.
Resideo Technologies (NYSE: REZI) a finalisé une opération importante avec Honeywell International (NASDAQ: HON) visant à supprimer toutes les obligations financières futures au titre de leur accord d'indemnisation et de remboursement de 2018. L'accord prévoit un paiement unique en espèces de 1,59 milliard de dollars à Honeywell, mettant fin à l'obligation pour Resideo d'effectuer des paiements annuels allant jusqu'à 140 millions de dollars jusqu'en 2043.
La transaction supprime toutes les clauses affirmatives et restrictives de l'accord d'indemnisation, tout en maintenant les autres accords, y compris la licence à long terme de Resideo pour l'utilisation de la marque Honeywell Home.
Resideo Technologies (NYSE: REZI) hat eine bedeutende Vereinbarung mit Honeywell International (NASDAQ: HON) abgeschlossen, die alle zukünftigen finanziellen Verpflichtungen aus ihrem Indemnification- und Erstattungsvertrag von 2018 beseitigt. Die Vereinbarung sieht eine einmalige Barzahlung von 1,59 Milliarden US-Dollar an Honeywell vor und beendet Resideos Verpflichtung zu jährlichen Zahlungen von bis zu 140 Millionen US-Dollar bis 2043.
Die Transaktion hebt alle positiven und negativen Zusagen aus dem Indemnification-Vertrag auf, während andere Vereinbarungen bestehen bleiben, darunter Resideos langfristige Lizenz zur Nutzung der Marke Honeywell Home.
- None.
- Significant immediate cash outlay of $1.59 billion
- Reduction in cash reserves and potential impact on financial flexibility
In connection with the completion of the transaction, Resideo made a one-time cash payment to Honeywell of
Advisors
Willkie Farr & Gallagher LLP served as legal counsel to Resideo and Collected Strategies served as strategic communications advisor in connection with the transaction.
About Resideo
Resideo is a leading manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets. We are a leader in the home heating, ventilation, and air conditioning controls markets, smoke and carbon monoxide detection home safety and fire suppression products markets, and security products markets. Our solutions and services can be found in over 150 million residential and commercial spaces globally, with tens of millions of new devices sold annually. For more information about Resideo and our trusted, well-established brands including First Alert, Honeywell Home, BRK, Control4, and others, visit www.resideo.com.
Contacts:
Investors:
Christopher T. Lee
Global Head of Strategic Finance
investorrelations@resideo.com
Media:
Garrett Terry
Corporate Communications Manager
garrett.terry@resideo.com
or
Dan Moore, Jim Golden, Tali Epstein
Collected Strategies
Resideo-CS@collectedstrategies.com
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SOURCE Resideo Technologies, Inc.
FAQ
What is the value of Resideo's (NYSE: REZI) payment to Honeywell in the 2025 transaction?
How much will Resideo (REZI) save annually from terminating the Honeywell agreement?
Will Resideo (REZI) continue to use the Honeywell Home brand after the 2025 transaction?
What agreements between Resideo and Honeywell were affected by the 2025 transaction?
