Honeywell International Inc (NASDAQ:HON) has agreed to buy Saab ADR’s (OTC:SAABY) heads-up-display (HUD) assets for use in a number of its avionics offerings. Deal terms were not disclosed.
Saab will collaborate with Honeywell to develop and strengthen its HUD product range as part of the agreement.
HUD technology will be integrated with Honeywell Anthem and Primus Epic flight decks to boost safety solutions.
The main purpose of HUDs is to make it as easy as possible for pilots to see and absorb their necessary flight or mission details.
“The addition of HUDs as part of our wider avionics offerings will provide our customers in business aviation, air transport and defense segment a great safety tool that can be particularly useful during takeoff and landing, which are typically the most crucial parts of any flight,” commented Vipul Gupta, vice president and general manager, Avionics, Honeywell Aerospace.
Price Action: HON shares are trading lower by 0.01% at $203.32 on the last check Wednesday.
