ATLANTA, Dec. 24, 2020 /PRNewswire/ -- Honeywell (NYSE: HON) today announced the acquisition of Sparta Systems, Inc. (Sparta), a private equity firm held by New Mountain Capital, in a $1.3 billion cash transaction. Sparta is a leading provider of enterprise quality management software (QMS), including next-generation SaaS platforms, in the life sciences sector. 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 launch new integrated solutions, including QMS products and services, for the life sciences and related industries. Honeywell's advanced digital QMS solutions will help customers 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 producers further improve the interconnection between product quality and production data. "The combination of the two makes it easier for customers to gain critical insights from production and quality data to continuously optimize their production processes while ensuring product quality, patient safety, and supply chain continuity," said Que Dallara, president and CEO of Honeywell's Enterprise Connected business. ”
For more than 30 years, Honeywell has been innovating in automation technologies, systems, and services for the world's leading pharmaceutical and biomedical companies. The company's product portfolio includes: advanced automation and process control solutions that oversee continuous and batch processing and ensure quality stability; Data capture and recording solutions that streamline processes and ensure compliance; and technologies that ensure auditability, optimize production, and accelerate product time-to-market, while ensuring quality and repeatability. Among other things, Honeywell's Fast Track automation solution helps manufacturers in the life sciences industry accelerate the development and production of important vaccines and medical therapies.
"Sparta is the perfect addition to our life sciences portfolio. "Sparta's capabilities will first help us achieve our existing business significant progress plans in the life sciences space, 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 CEO of Honeywell's Performance Materials and Technologies Group. We are very optimistic about the future of life sciences and pharmaceuticals, and we are confident that Sparta will form synergies with Honeywell in many ways, including Honeywell Enterprise Connection, Honeywell Forge and Honeywell Process Control. ”
Headquartered in Hamilton, New Jersey, Sparta employs approximately 250 people worldwide. Sparta serves more than 400 customers, including 42 Global 50 Compulsory Drug Companies and 33 Global Top 50 Medical Device Companies.
"Many companies need a quality management software solution with advanced digital capabilities that effectively automates, optimizes, and standardizes quality processes. "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 businesses to accelerate business growth," said Dana Jones, CEO 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.
"Since partnering with Sparta in 2017, the company has launched the only AI-powered QMS solution that has expanded its SaaS user base by 2.5x while investing heavily in product development," said Pete Masucci, managing director of New Mountain Capital. We look forward to seeing Sparta continue to thrive within Honeywell." ”