Honeywell To Buy Italy-Based Civitanavi In €200 Million Deal

By Amit Chowdhry • Mar 28, 2024

Honeywell announced it agreed to buy Civitanavi for €200 million. This deal is based on a €6.30 per-share bid, and it would combine the technologies of both companies to provide new opportunities for customers to enable autonomous operations.

The deal will strengthen Honeywell’s capabilities in helping its customers create autonomous operations in aircraft and other vehicles. It also supports Honeywell’s alignment of its portfolio around three megatrends, including the future of aviation and automation. With this acquisition, Honeywell will be able to offer a wider set of technologies to its customers worldwide, whether they are traditional operators seeking to increase the autonomous capability of their existing fleets or new entrants in the Advanced Air Mobility space.

This purchase price payable at closing represents a premium of approximately 27.1% to the 30-day volume-weighted average trading price of Civitanavi’s stock ended on March 26, 2024 – which the last day of trading before the announcement of the transaction. And Honeywell has already secured the commitment of Civitanavi’s controlling shareholder (who owns approximately 66% of Civitanavi’s outstanding shares to tender its shares).

The deal is not subject to any financing conditions and, subject to customary closing conditions, is expected to close in the third quarter of 2024.

Bird & Bird is acting as legal counsel to Honeywell in the acquisition process and UniCredit is acting as financial advisor.


“By integrating Civitanavi’s inertial technologies and sensors across Honeywell’s existing commercial, military, space and industrial platforms, our customers across the globe will now have access to a more robust portfolio of aerospace navigation solutions in support of their journey toward autonomous operations.”

“With this acquisition, we will be able to immediately expand our offerings to customers in the European Union through Civitanavi’s navigation solutions, a capability we intend to further build out in the near-term. We look forward to adding this critical technology to our portfolio to help accelerate the growth of our Aerospace business. We are excited to welcome Civitanavi’s talented workforce as our newest Honeywell Futureshapers.”

  • Honeywell Aerospace Technologies President & CEO Jim Currier