Honeywell partners with Theatro
On January 14, Honeywell (HON) announced that it has entered into a partnership with Theatro. Theatro is the pioneer of the world’s first voice-controlled mobile app for the hourly workforce. The companies aim to develop joint SaaS (software-as-a-service) solutions, which will empower retail store associates. However, Honeywell didn’t disclose any financial aspects of the partnership.
Theatro’s SaaS subscription services will complement Honeywell’s Connected Retail Solutions portfolio. Honeywell will also become the official reseller of Theatro’s Saas subscription services. As part of the agreement, Theatro will optimize its mobile application software on Honeywell’s mobile devices.
Peter Howes, the president of Honeywell’s Productivity Products business, said, “Today’s brick-and-mortar retail operations must deliver on customer demand for a seamless experience with reduced staff and increased competition. Honeywell’s hardware combined with Theatro’s proven software will help associates provide the right information at the right time, providing immediate satisfaction to customers.”
Honeywell and Theatro offered a live demonstration of the joint solution at the NRF Big Show on January 13–15.
Honeywell’s stock performance
So far in 2019, Honeywell has gained 4.3%. Honeywell has outperformed the S&P 500 (SPY), which has gained 4.1%. General Electric (GE), United Technologies (UTX), and Textron (TXT) have gained 15.3%, 4.3%, and 4.7% respectively, as of January 15.