Honeywell, an American multinational conglomerate company that produces commercial and consumer products, engineering services and aerospace systems, agreed to acquire CAES Systems, a provider of technology that pioneers the future and underpins many of the world’s most critical aerospace and defence missions, from Advent International, a private equity firm, for $1.9bn. "This acquisition further positions Honeywell at the forefront of the defense industry's most dynamic sectors and sets the tempo for continued growth across our aerospace business. With the integration of CAES' solutions and capabilities, we will fortify our existing defense offerings, while also expanding our capabilities in pivotal areas like RF, radar and sensing technologies, to ensure a market-leading position in areas that are critical for global security," Vimal Kapur, Honeywell Chairman and CEO.