Vector took the company private in June 2011 and RAE will now be integrated into Honeywell Analytics, a part of Honeywell Life Safety in Honeywell’s Automation and Control Solutions division.
Robert Chen, CEO of RAE Systems, said, “With the full support of Vector Capital, we have broadened our product offerings, expanded our global presence, and optimised our internal operations. Our range of products, innovation in photo-ionization detection and wireless technology are highly complementary to Honeywell.”
The transaction is expected to close in the second quarter of 2013.
David Fishman, a managing director at Vector Capital, said, “We have had a very successful investment in RAE and partnership with the founders and management team.
“We are pleased to have selected a buyer for RAE that will continue to invest in the company and its products to further grow the business.
“RAE Systems is the most recent example in Vector’s long history of partnering with management to realise significant value by growing and transforming technology companies.”
Vector Capital was founded in 1997 and is based in San Francisco. It currently manages over $2bn in equity capital.
Among Vector’s notable investments are Aladdin Knowledge Systems, Cambium Networks, Certara, Corel, Gerber Scientific, LANDesk, Precise Software, Printronix, RAE Systems, Register.com, SafeNet, Savi Technology, Technicolor, Tidel Engineering, Trafficmaster, WatchGuard Technologies and WinZip.
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