Honeywell to acquire Sparta Systems from New Mountain Capital for $1.3bn.

Honeywell, a Fortune 100 technology company, agreed to acquire Sparta Systems, a provider of enterprise quality management software, from New Mountain Capital, a private equity firm, for $1.3bn. The acquisition is expected to close by the end of the first quarter of 2021 and is subject to certain regulatory approvals and other customary closing conditions. "Since we partnered with Sparta in 2017, the company launched its TrackWise Digital platform – the only AI-enabled QMS solution, expanded its SaaS customer base by two-and-a-half times, and significantly invested in product development and R&D. We are excited to watch Sparta continue to thrive within the Honeywell organization," Pete Masucci, New Mountain Capital Managing Director.