FOR IMMEDIATE RELEASE
O’Melveny & Myers LLP
NEW YORK--OCTOBER 5, 2015 --
O’Melveny & Myers LLP represented Honeywell in its acquisition of privately held Aviaso, an international aviation software company that offers fuel efficiency and emissions savings software to the airline industry. Terms of the deal were not disclosed.
The O’Melveny team was led by partner Tobias Knapp and associates Sarah Young and Andrew Banks. About O’Melveny & Myers LLP
With approximately 700 lawyers in 15 offices worldwide, O’Melveny & Myers LLP helps industry leaders across a broad array of sectors manage the complex challenges of succeeding in the global economy. We are a values-driven law firm, guided by the principles of excellence, leadership, and citizenship. Our commitment to these values is reflected in our dedication to improving access to justice through pro bono work and championing initiatives that increase the diversity of the legal profession. For more information, please visit www.omm.com. The following press release was issued by Honeywell:
Honeywell Boosts Aerospace Portfolio With Acquisition Of Aviaso Aviaso provides software services to commercial airlines that reduce fuel consumption
Technologies align with Honeywell's strategic priorities to provide differentiated products and services to aircraft manufacturers and airlines ROLLE, Switzerland, Sept. 17, 2015 /PRNewswire/
-- Honeywell (NYSE: HON) has acquired privately held Aviaso, an international aviation software company that offers fuel efficiency and emissions savings software to the airline industry. Terms of the deal are not being disclosed.
Aviaso's software products gather data on aircraft usage and identify and communicate the ways airline customers can save fuel consumption through a simple, intuitive software interface. Fuel consumption can make up as much as 20 to 40 percent of an airline's operating costs, and even single-digit percent efficiency improvements can save airlines tens of millions of dollars in fuel spending. Aviaso also provides software for emissions reporting as well as consulting and training for fuel efficiency and emissions management.
The company's products and services will strengthen Honeywell's comprehensive services offerings, and take advantage of existing connectivity, maintenance and flight plan operations businesses.
"Aviaso brings new products to our broad aerospace services offerings, along with several opportunities for Honeywell to offer our airline customers a full suite of services that improve aircraft performance and safety," said Carl Esposito, vice president, Marketing and Product Management at Honeywell Aerospace. "This acquisition strengthens Honeywell's leadership in delivering energy-efficient solutions to our airlines customers, and adds increasingly valuable fuel management services to our growing services portfolio."
"Honeywell is a pioneer in the aviation industry, and we are excited to add our capabilities to its suite of services," said Rudolf Christen, chief executive officer of Aviaso. "Combining our technologies and experienced teams will result in new products that help airlines around the globe realize fuel-efficiency savings."
In addition to strengthening Honeywell's product portfolio, the acquisition also broadens the company's presence in Europe and the global locations where Aviaso operates with an opportunity for further expansion in other mature and high-growth regions. Headquartered in Zurich, Switzerland, Aviaso also operates a software development facility in Sofia, Bulgaria. Supporting Resources
Honeywell Aerospace products and services are found on virtually every commercial, defense and space aircraft, and its turbochargers are used by nearly every automaker and truck manufacturer around the world. The Aerospace business unit develops innovative solutions for more fuel efficient automobiles and airplanes, more direct and on-time flights, safer flying and runway traffic, along with aircraft engines, cockpit and cabin electronics, wireless connectivity services, logistics and more. The business delivers safer, faster, and more efficient and comfortable transportation-related experiences worldwide. For more information, visit www.honeywell.com or follow us at @Honeywell_Turbo and @Honeywell_Aero.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.
Honeywell and the Honeywell logo are the exclusive properties of Honeywell, are registered with the U.S. Patent and Trademark Office, and may be registered or pending registration in other countries. All other Honeywell product names, technology names, trademarks, service marks, and logos may be registered or pending registration in the U.S. or in other countries. All other trademarks or registered trademarks are the property of their respective owners. Copyright 2015 Honeywell. This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
October 5, 2015