November 5, 2015
U.S. aerospace and manufacturing giant Honeywell International is buying Com Dev International's satellite equipment business for $455 million. As one of Waterloo Region's most successful technology companies, Com Dev's ExactEarth subsidiary, which runs a network of satellites that monitor ocean-going ships, will be spun out as a stand-alone publicly traded company. Honeywell has a long and proud history in space, and participated in the Apollo missions during the 1960s that put Neil Armstrong on the Moon in July 1969, and more recently in the International Space Station. The combined company will have a significant presence in international space markets, and improved access to those markets will accelerate Com Dev's growth.
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