LONDON, September 22 -- The 2006 Frost & Sullivan European Security Company of the Year Award in the building technologies area is presented to Honeywell Security. Honeywell has responded to changing competitive and customer dynamics by implementing successful strategies and embarking on ambitious acquisitions to become a global leader in the development and distribution of electronic security technologies.
"An aggressive sales push, combined with a number of key strategic acquisitions, has enabled US-headquartered Honeywell to out-perform the European security solutions market for two years in a row, and firmly position itself among the industry leaders," says Frost & Sullivan Research Analyst Nick Houldsworth. "An established record of developing leading-edge, innovative technology solutions has also underpinned the company's rapid expansion of its security business."
In recent years Honeywell has made a number of significant acquisitions both in the security technology manufacturing and the security equipment distribution sectors; a strategy that produces a perfect synergy between product development and delivery.
"In 2005, Honeywell acquired Novar in order to strengthen its position in the European security markets, particularly in the United Kingdom and Germany," elaborates Mr. Houldsworth. "In 2006, Honeywell's leading security distribution business, ADI International, grew through the acquisition of Gardiner Groupe Europe ( a leading European distributor of CCTV systems, fire alarm, intrusion alarm, access control, public address and integrated systems), in order to expand its global presence and build its influence in security and low voltage products."
Moreover, the company's bold strategic vision has been exemplified by its decision to abandon the security services industry (remote monitoring) at a time when many of its competitors are striving to increase their presence in this market.
"Honeywell's overall security strategy is based around a vertical market penetration approach, providing the company with invaluable insight into the market sectors in which it operates," adds Mr. Houldsworth. "Whilst many of its competitors are at various stages of implementing a vertical market strategy, Honeywell has a well established business model that enables it to identify exciting growth opportunities, optimize its customer focused solutions and, ultimately, maximize the revenue potential from each individual client, partner and sector."
Frost & Sullivan's Company of the Year Award is presented each year to a company that has demonstrated excellence in all operations including business development, competitive strategy, and leadership. The Award recipient has demonstrated exceptional customer service, the ability to combine technology and successful strategic initiatives and superior market growth skills to register significant gains in the market.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.