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Honeywell Acquires PAS Advanced Process Controls

February 1, 2007

The acquisition will allow Honeywell to provides engineers with more meaningful process information.

Houston, TX--PAS, a leading global supplier of software products and consulting services for the process industries, announced today that it has sold its highly-regarded Advanced Control & Optimization (APC&O) business to Honeywell International. The transaction includes the linear and non-linear controls and optimization technologies, as well as all related customer contracts and personnel.

Analysts and industry observers alike view this transaction as a positive event for all parties involved.

According to Tom Fiske, Director of Research for ARC Advisory Group, "From an industry perspective, ARC views this transaction as a positive for everyone involved. End-users will benefit from the long-term PAS and Honeywell partnership which will facilitate a seamless transfer of ownership to Honeywell and continued support for the technology. " Dr. Fiske continues, "PAS is gaining traction in a burgeoning market with its Alarm Management and Automation Configuration Management solutions. PAS benefits from the divestiture by allowing them to concentrate their resources on managing this high growth business. Honeywell benefits by strengthening their competitiveness in the APC and Optimization market. "

The divestiture of these assets by PAS streamlines the company's portfolio and accelerates the development of its #1 Alarm Management and Integrity Automation Asset Configuration Management businesses.

"In order to fully capitalize our market leadership position we have made a strategic move that will sharpen our focus and strengthen our growth, " said Eddie Habibi, PAS Founder and CEO. "Focus defines reality, " he continued, "and our focus is to repeat our 2006 growth rate of 100%+ in the businesses where we hold significant first-to-market advantages. "

"With this acquisition, we strengthen our offerings in the APC&O market, " said Jack Bolick, president of Honeywell Process Solutions. "This addition allows us to deliver more meaningful process information to operators and engineers to help them align operations with business objectives. Incorporating PAS ' proven advanced process control technology with our own will contribute to that strategy and offer a more innovative product. "

About PAS
PAS is a leading supplier of software products and consulting services to the process industries worldwide and has been delivering value to customers since 1993. Key applications include Alarm Management, Automation Configuration Management, Control Loop Performance Monitoring, Real-time Performance Metrics Management, and Knowledge Management. For more information visit the PAS Web site, visit the PAS blog, email us at pr@pas.com or call 281.286.6565.

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