Honeywell to Sell Productivity Business in $1.4 Billion Deal (2)

Honeywell International Inc. agreed to divest its productivity solutions and services business to industrial manufacturer Brady Corp., the latest move by Honeywell to reshape its portfolio as it pursues a multipart breakup.

Brady will pay $1.4 billion in cash for the business, according to a statement Monday that confirmed an earlier report by Bloomberg News. The deal is expected to be completed in the second half of this year.

Honeywell’s productivity solutions and services business, known as PSS, is a provider of mobile computers, barcode scanners and printing solutions for the logistics market and had about $1.1 billion in ...