Honeywell International (NASDAQ:HON) shares are down during Thursday’s premarket session. The company disclosed a collaboration with Rhombus to enhance its cloud-connected security solutions.

This strategic partnership aims to address the rising demand for integrated cloud access and video solutions, adding pressure as broader markets edged lower.

Partners Rhombus On Cloud Security

Honeywell and Rhombus will deliver an integrated access control and video management solution that is easy to deploy and manage.

This collaboration is set to support a variety of commercial environments, including retail chains and schools, with Rhombus products initially available through Honeywell in North America.

The partnership is part of Honeywell’s ongoing effort to modernize building security, which began with the acquisition of LenelS2 in 2024.

Notably, the cloud video solutions market is projected to grow at over 20% annually (as per Omdia), indicating a strong demand for such innovations in the security industry.

Commits $500M In Defense Deal

On Wednesday, Honeywell disclosed a deal of $500 million to upgrade its production capacity under this new agreement. This marks a ...