Honeywell International Inc., an American multinational conglomerate, is reportedly planning to acquire a quality management service provider Sparta Systems for USD 1.3 billion in an all-cash transaction funded by private equity company New Mountain Capital.
As per the trusted reports, the acquisition will allow Honeywell to expand its reach in industrial automation, enterprise performance management software, and digital transformation solutions. The company will introduce a new integrated QMS service to companies operating in the life sciences vertical, by leveraging its global presence, Sparta’s as well as Honeywell Forge’s expertise.
As per the agreement, Honeywell will continue to improve Sparta’s TrackWise Digital QMS by integrating AI (artificial intelligence) as well as ML (machine learning) capabilities that will ensure high-quality decision making. The company will also add IoT-based connectivity between operational and quality data to detect manufacturing faults in real-time.
The new solution will provide customers access to advanced digital QMS solutions, which will help them achieve better quality, improve business and patient outcomes, boost commercialization, and effectively comply with regulatory policies, sources confirmed.
Que Dallara, President, and CEO at Honeywell Connected Enterprise reportedly stated that the company is looking forward to using Sparta's QualityWise.ai and TrackWise Digital® to improve the link between the quality and production of data for life sciences manufacturers. He further added that the combined offerings of the two companies will provide customers better insights regarding manufacturing processes and subsequently improve their production capabilities.
Dana Jones, CEO at Sparta Systems reportedly said that the combination of Honeywell's expertise in process automation and software offerings with Sparta's leading QMS platform will allow for the development of a unique and comprehensive solution that will further enable customers to focus on the value-adding activities which will subsequently accelerate their relevant growth.
It is to be noted that New Jersey-headquartered Sparta Systems is a leading enterprise quality management software (QMS) solutions provider, such as a next-gen SaaS platform that is widely adopted in the life sciences industry.
Source credits –