Honeywell International has filed an antitrust suit in an effort to stop a merger of two of its competitors in the smart home technology business.
Honeywell seeks to stop the $140 million acquisition of two divisions of Icontrol Networks by Alarm.com, claiming the combined entity would have 70 percent share of the market for software allowing remote operation by smartphone or computer of a home security system or other connected devices such as lights and thermostats. Courts have held that a 65 percent market share is sufficient to establish a prima facie case of market power, according to the suit, filed Wednesday in federal court in Newark.
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