Honeywell Acquires Utility Platforms from SparkMeter to Enhance Smart Energy Portfolio

Honeywell acquires three utility platforms from SparkMeter to expand its Smart Energy portfolio. The acquisition enhances Honeywell Forge Performance+ for Utilities, enabling data-driven solutions to modernize grid infrastructure and address increasing energy demand. The acquired platforms include Praxis, GridScan, and SparkMeter's other related assets. The deal strengthens Honeywell's capabilities in grid management and enhances its offerings for utilities.

Honeywell International (NASDAQ: HON) has announced the acquisition of three utility platforms from SparkMeter, Inc., a leading provider of grid management solutions. This strategic move aims to bolster Honeywell's Smart Energy portfolio and enhance its offerings for utilities. The acquisition includes intellectual property and related assets from SparkMeter.

The platforms acquired by Honeywell include Praxis, a data platform designed to deliver insights and analytics that help utilities modernize, maximize, and monetize their assets. GridScan is a software application that provides immediate visibility into the operational performance and health of distribution grids. GridFin, a financial management application, analyzes and manages energy supply costs, optimizes customer rates, and improves overall financial performance.

The integration of these technologies into Honeywell Forge Performance+ for Utilities will significantly enhance the platform's capabilities. This will enable the delivery of scalable, data-driven solutions designed to modernize grid infrastructure and address the increasing demand for energy.

"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 acquisition follows Honeywell's planned spin-offs of its Aerospace Technologies and Solstice Advanced Materials businesses and a series of strategic actions to drive organic growth and simplify its portfolio. Since June 2023, Honeywell has announced a number of strategic actions, including $14 billion of accretive acquisitions and the sale of its Personal Protective Equipment business to Protective Industrial Products in May 2025.

This strategic move underscores Honeywell's commitment to leveraging technology to address the evolving needs of the energy sector. The acquisition will enable Honeywell to provide utilities with more comprehensive data management, business intelligence, and analytics functionality, positioning the company as a key player in the modernizing of grid infrastructure.

References:
[1] https://www.marketscreener.com/news/honeywell-acquires-sparkmeters-data-platform-and-software-technologies-to-strengthen-its-portfolio-of-utility-solutions-302534611.html