Heico’s Dukane Seacom enters exclusive license agreement with Honeywell

HEICO Corporation (HEI) announced that its Dukane Seacom subsidiary entered into an exclusive license and acquired key assets for the Aircraft Emergency Locator Transmitter product line from Honeywell International (HON). The transaction was structured as an exclusive perpetual license and asset purchase. Dukane Seacom is part of HEICO’s Electronic Technologies Group. Transaction terms and financial details were not disclosed. HEICO stated that it expects the license and asset acquisition to be accretive to its earnings in the year following closing. The transaction provides Dukane Seacom with all rights to produce, sell and repair both fixed and portable Honeywell ELTs, as well as various support equipment. Prior to the transaction, Dukane Seacom and Honeywell had been longstanding technology and manufacturing partners for ELT products. Dukane Seacom is now solely responsible for the activities formerly performed by Honeywell and will conduct its engineering, production and customer support functions from Dukane Seacom’s Sarasota, FL facility.