Minneapolis, MN 4/23/13; San Jose, CA 4/23/13—Honeywell has signed a definitive agreement to acquire RAE Systems, a manufacturer of fixed and portable gas and radiation detection systems and software, for $340 million. Based in San Jose, California, with 750 employees, RAE had 2012 sales of $107 million. Honeywell stated that the purchase price is approximately 13 times RAE’s estimated 2013 EBITDA. “Their strong presence in hazardous material, first responder, and government complements our existing business very well, and their expertise in photo-ionization detection, wireless, and radiation detection represent terrific opportunities to expand our reach,” stated Mark Levy, president and CEO of Honeywell Life Safety. RAE will join Honeywell Analytics, part of Honeywell Life Safety, which is within Honeywell Automation and Control Solutions. The transaction is scheduled to close in the second quarter.