NEW DELHI: Honeywell, a global leader in connected buildings, on Tuesday announced a strategic investment in Bengaluru-based software company Trinity Mobility Pvt Ltd that will ultimately lead to taking full ownership.
Without disclosing financial details of the deal, Honeywell said the investment focuses on the management of a connected infrastructure, which can help make cities safer, more sustainable and livable for citizens.
"This strategic 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.
"Together, Honeywell's and Trinity's smart cities solutions help make cities safer and more livable for citizens while helping customers manage and reduce their emissions," it said in a statement.
The investment, it said, has been "structured to provide Honeywell with a path to full ownership of Trinity".
It will allow Honeywell to more fully partner with cities that are expanding their smart city deployments or integrating new systems.
The smart cities IoT solution, called the Honeywell City Suite, can seamlessly aggregate information from traffic, environment, parking, emergency services, safety and security, and utilities – among other areas – in a single, unified view.
In addition to enhancing the efficiency of cities, these solutions can also be applied to retirement communities, large planned residential communities, university campuses and large industrial communities that want to provide a more connected living experience.
"Many of the world's cities are facing significant operational and sustainability challenges stemming from urbanization, including unexpected crises, infrastructure issues, environmental and safety concerns, and the expanding needs of citizens," said Vimal Kapur, president and chief executive officer, Honeywell Building Technologies.
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, he said.
Founded and based in Bengaluru, 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," the statement said.
The terms of the investment were not disclosed. The investment is pending customary deal closing conditions.
Without disclosing financial details of the deal, Honeywell said the investment focuses on the management of a connected infrastructure, which can help make cities safer, more sustainable and livable for citizens.
Trinity Mobility is a provider of the leading internet of things (IoT) smart cities platform and software applications.
"This strategic 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.
"Together, Honeywell's and Trinity's smart cities solutions help make cities safer and more livable for citizens while helping customers manage and reduce their emissions," it said in a statement.
The investment, it said, has been "structured to provide Honeywell with a path to full ownership of Trinity".
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It will allow Honeywell to more fully partner with cities that are expanding their smart city deployments or integrating new systems.
The smart cities IoT solution, called the Honeywell City Suite, can seamlessly aggregate information from traffic, environment, parking, emergency services, safety and security, and utilities – among other areas – in a single, unified view.
In addition to enhancing the efficiency of cities, these solutions can also be applied to retirement communities, large planned residential communities, university campuses and large industrial communities that want to provide a more connected living experience.
"Many of the world's cities are facing significant operational and sustainability challenges stemming from urbanization, including unexpected crises, infrastructure issues, environmental and safety concerns, and the expanding needs of citizens," said Vimal Kapur, president and chief executive officer, Honeywell Building Technologies.
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, he said.
Founded and based in Bengaluru, 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," the statement said.
The terms of the investment were not disclosed. The investment is pending customary deal closing conditions.
