The investment will allow Honeywell to expand its smart cities capabilities by providing access to Trinity's Smart City solutions, which integrate information from various systems across a city in a common interface and allow operators to better assess, operate and manage the city's connected infrastructure.
This investment, which is structured to provide Honeywell with a path to full ownership of Trinity, will allow Honeywell to more fully partner with cities that are expanding their smart city deployments or integrating new systems.
“The combined capabilities of Honeywell and Trinity can allow cities of all sizes to improve services and provide a better experience for their citizens. In addition, the data generated from these technologies can help improve cities' ability to plan, helping create a more hospitable and livable environment for its citizens,” said Vimal Kapur, president and chief executive officer, Honeywell Building Technologies.
Trinity creates software solutions that help manage large, complex installations like those needed for smart cities. Honeywell and Trinity have worked together for more than five years to deploy multiple smart city projects, including Faridabad in Haryana and the New Administrative Capital of Egypt. Honeywell's strategic investment will allow it to expand the reach of its smart cities capabilities to additional international markets.