Honeywell wins EU approval for $600 million Intermec buy

Reuters News
Posted: Jun 14, 2013 5:46 AM

BRUSSELS (Reuters) - U.S. conglomerate Honeywell <HON.N> secured EU regulatory approval on Friday for its $600 million acquisition of mobile computing device maker Intermec <IN.N>.

Honeywell, which makes a wide range of industrial products from cockpit electronics to car turbochargers, said the deal would boost its presence in the market for mobile computers and automatic data recording equipment.

Intermec's products include barcode scanners and radio-frequency identification (RFID) readers.

The European Commission, which acts as competition regulator across the 27-member European Union, said the deal would not hurt either consumers or rivals.

"The Commission found that the transaction would not raise competition concerns, in particular because the merged entity will continue to face several credible competitors in the relevant markets," the EU executive said in a statement.

(Reporting by Foo Yun Chee; editing by Rex Merrifield)