Sparta's AI-powered software-as-a-service (SaaS) quality management software (QMS) will be combined with industry-leading enterprise performance solutions Honeywell Forge and Experion® Process Knowledge System (PKS) to create more value for life sciences customers in the United States, Europe and Asia
• Honeywell will use Sparta's technology to further drive global growth and enter new market segments, including highly regulated verticals that rely on advanced process technologies
Sparta's technology will accelerate Honeywell's significant business progress, further advance into the life sciences market and strengthen Honeywell's existing portfolio of advanced automation and process control technologies
Atlanta, United States, December 22, 2020 – Honeywell (NYSE: HON) today announced the acquisition of Sparta Systems (Sparta), a private equity firm owned by New Mountain Capital, in a $1.3 billion cash transaction. Sparta is a leading provider of enterprise quality management software (QMS) for the life sciences sector, including next-generation SaaS platforms. With this acquisition, Honeywell further strengthens its market leadership in industrial automation, digital transformation solutions and enterprise performance management software.
Honeywell will combine its global resources, Honeywell Forge solutions and Sparta's expertise to deliver new integrated solutions, including QMS products and services, for the life sciences and related industries. Honeywell's state-of-the-art digital QMS solutions will enable customers to proactively improve product quality to improve new therapies, reduce time to market, improve business outcomes and patient outcomes, and effectively ensure compliance.
"Sparta's TrackWise Digital ® and QualityWise.aiSM complement Honeywell's Honeywell Forge enterprise performance management software to help life sciences manufacturers further improve the connectivity between product quality and production data." "Combining the two makes it easier for customers to gain critical insights from production and quality data to continuously optimize their manufacturing processes while ensuring product quality, patient safety, and supply chain continuity," said Que Dallara, president and chief executive officer, Honeywell's Enterprise Connectivity business. ”
For more than 30 years, Honeywell has served the world's leading pharmaceutical and biomedical companies through innovations in automation technologies, systems and services. The company's product portfolio includes: advanced automation and process control solutions that oversee continuous and batch processing and ensure quality consistency; data capture and documentation solutions that streamline processes and ensure compliance; and technologies to ensure auditability, optimize production, and accelerate time-to-market, while maintaining quality and repeatability. Honeywell's Fast Track automation solutions help life sciences manufacturers accelerate the development and production of critical vaccines and medical therapies.
"Sparta is a perfect addition to our life sciences portfolio." "Sparta's capabilities will first enable us to achieve significant progress in our existing business in the life sciences sector, and we plan to combine Honeywell's global resources and expertise to further rapidly expand Sparta's capabilities to serve more markets," said Rajeev Gautam, president and chief executive officer of Honeywell's Performance Materials and Technologies Group. We are very optimistic about the future of the life sciences and pharmaceutical sectors, and we are confident that Sparta and Honeywell will create synergies in a number of ways, including Honeywell Enterprise Connectivity, Honeywell Forge, and Honeywell Process Control." ”
Headquartered in Hamilton, New Jersey, United States, Sparta employs approximately 250 people worldwide. Sparta serves more than 400 clients, including 42 of the Global 50 pharmaceutical companies and 33 of the Global 50 medical device companies.
"There is an urgent need for a quality management software solution with advanced digital capabilities to effectively automate, optimize and standardize quality processes across the board." "Combining Sparta's leading QMS platform with Honeywell's existing process automation and software offerings will create a unique, integrated solution that allows customers to focus on value-added business to accelerate business growth," said Dana Jones, Chief Executive Officer of Sparta. ”
Honeywell will continue to refine the TrackWise Digital QMS by introducing artificial intelligence and machine learning capabilities that enhance human decision-making. At the same time, Honeywell will enable the interconnection between quality and operational data through the Internet of Things, detecting production anomalies and classifying quality events in near real time. These continuous innovations help customers proactively address quality issues, improve safety, and ensure compliance.
Pete Masucci, Managing Director of New Mountain Capital, said: "Since partnering with Sparta in 2017, the company has launched the only AI-powered QMS solution, expanding its SaaS user base by 2.5x, while investing heavily in product research and development. We look forward to seeing Sparta continue to thrive within Honeywell." ”
The acquisition is expected to close by the end of the first quarter of 2021 and the effective date of the acquisition agreement is subject to customary closing conditions and regulatory approvals. The acquisition does not affect Honeywell's financial outlook for 2020.
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