Honeywell buy 25 pc stake in Chinese software provider

Honeywell to buy 25 pc stake in Chinese software provider

5:08 AM, 8th December 2017
Honeywell logo

FORT MILL, US: Honeywell (HON) has signed an agreement to acquire a 25 percent ownership interest in FLUX Information Technology, a leading provider of warehouse management and related supply chain software in China.

Honeywell will also form a new joint venture (JV) company with FLUX's founder to serve customers outside China. Honeywell will hold a 75 percent stake in the new joint venture, which will initially focus on opportunities in the Asia Pacific region. The investment in FLUX is expected to close by the end of the fourth quarter pending Chinese regulatory approvals.

FLUX develops and implements warehouse management systems and other software for customers in multiple industries, and is a leading player in China's booming e-commerce, apparel, pharmaceutical, retail, third-party logistics, cold chain and manufacturing sectors. FLUX's supply chain execution solutions include its warehouse management system, transportation management system, order management system and data exchange platform.

FLUX's offerings complement those of Honeywell safety and productivity solutions, which develops hardware and software that improve productivity, enhance worker safety, and increase accuracy and throughput of supply chains.

"FLUX's strong software capabilities fit well into Honeywell's connected supply chain strategy, complementing the warehouse expertise of our Honeywell Intelligrated business. FLUX's warehouse, transportation management and order management offerings complement Honeywell's data capture technology, worker productivity and warehouse automation solutions, and enable us to maximize customer satisfaction in the digital age," said John Waldron, president and CEO, Honeywell safety and productivity solutions.

"We are pleased to team up with Honeywell to further expand in China and to play an active role in the global warehousing and logistics industry by offering our leading Warehouse Management System solutions. Honeywell has outstanding industry reach and strong global presence, which will enable us to fulfil our vision of globalization. With this strategic partnership, we will connect, collaborate and create more value for our customers," added Shi Zunli, founder and CEO of FLUX.

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