Honeywell announced the expansion of its Smart Energy portfolio with the tuck-in acquisition of three utility platforms from SparkMeter, Inc., a provider of leading grid management solutions for utilities. The acquisition includes intellectual property as well as certain related assets from SparkMeter.
The integration of these grid intelligence technologies from SparkMeter significantly enhances Honeywell Forge Performance+ for Utilities, enabling the delivery of scalable, data-driven solutions designed to modernize grid infrastructure and address the increasing demand for energy.
The platforms Honeywell is acquiring include:
- Praxis, a data platform designed to deliver insights and analytics that help utilities modernize, maximize, and monetize their assets.
- GridScan, a software application that provides simple and immediate visibility into the operational performance and health of distribution grids.
- GridFin, a financial management application that analyzes and manages energy supply costs, optimizes customer rates, and improves overall financial performance.
"As the demand for energy continues to grow, utilities are facing new challenges that can impact their ability to quickly and efficiently modernize their infrastructure to meet these needs," said Amol Motivala, president, Honeywell Smart Energy. "By combining these SparkMeter technologies with Honeywell Forge Performance+ for Utilities, we will be able to provide our customers with advanced tools that automate, simplify and optimize their daily planning, operations and existing grid assets. The expansion of our smart energy portfolio will ensure our customers can navigate changing energy demands efficiently – allowing for more comprehensive data management, business intelligence and analytics functionality for utilities."
The acquisition follows Honeywell's announcement of the planned spin-offs of its Aerospace Technologies and Solstice Advanced Materials businesses, which will result in three publicly listed industry leaders with distinct strategies and growth drivers. Since June 2023, Honeywell has also announced a number of strategic actions to drive organic growth and simplify its portfolio, including $14 billion of accretive acquisitions: Compressor Controls Corporation, SCADAfence, the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products, Sundyne, Johnson Matthey's Catalyst Technologies Business and Li-ion Tamer. Honeywell also completed the sale of its Personal Protective Equipment business to Protective Industrial Products in May 2025.
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