M&F Worldwide will acquire all of the stock of Novar USA, the parent company of the security printing services firm.Morris Township-based Honeywell (NYSE: HON) has reached an agreement to sell Clarke American, its security printing services (SPS) business, to New York-based M&F Worldwide for $800 million in cash. M&F will acquire all of the stock of Novar USA, the parent company of the SPS business operated by Clarke American and related companies, including Checks in the Mail, B2Direct and Alcott Routon. The acquisition is expected to close before the end of this year.
SPS is a leading provider of check and check-related products and services, and of direct marketing services to financial institutions.
Honeywell shares were pegged at $33.60 in the morning session.