Brady Acquires $1B Honeywell Unit, Boosts Addressable Market to $14B

Brady Corporation has announced its largest acquisition in over a century, expanding its industrial technology capabilities and product portfolio. The company acquired Honeywell's Productivity Solutions and Services business for approximately $1 billion, rebranding it as Intelligent Productivity Solutions (IPS).

The legacy Brady Identity Solutions business generated around $1.7 billion in revenue last year and has an operating margin of about 20%. IPS brings a new set of products to the table, including mobile computers, scanners, printers, workflow software, voice-enabled solutions, services, and barcode-engine components.

According to CEO Vineet Nargolwala, Brady's addressable market will expand from around $4 billion to over $14 billion after the acquisition. The company sees opportunities across manufacturing and industrial markets as well as retail, transportation, logistics, and healthcare.