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Tech News


Honeywell Buys Black-Owned Tech Firm for $230 Million
By Frank McCoy
May 25, 2007, 18:48

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Russell T. Wright, 39, was the chairman and CEO of Dimensions International, a defense logistics company that he took over from his father, Dr. Robert Wright in 2003. The Alexandria, Va.-based firm provides logistics support for the U.S. armed forces and other defense agencies located in the Middle East and globally. The one-time family firm had been No. 23 on the Black Enterprise list of the largest black-owned companies with revenues of $187 million in 2006.

A second-act, however, may be in the offing for the younger Wright, who will continue to direct Dimensions’ daily operations. He has formed a holding company to buy SENTEL, a multi-million division of Dimensions, that also does defense-related work, but is not wanted by Honeywell.

See the Honeywell press release
https://www.honeywell.com/sites/portal?smap=honeywell&page=pressrel_detail&theme=T8&id=A35F78BDE-ACFE-C7A0-A1E9-1610F859998F&catID=cat1b754a4-fb536f3d74-3e3e4447ab3472a0c2a5e5fdc1e6517d

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Black Technology

A virtual spokesperson for black technology, BlackEngineer aspires to serve as leading news and information provider on the advancements in black technology with deep insights into black engineering, black entrepreneurs, black education, and historically black colleges and universities (HBCU). In fact, BlackEngineer is one of the very few to promote the achievements of black technology. The Black engineer of the year awards (BEYA) is one of our successful ventures to promote black technology, progress and achievements made in black technology, and the sentiments of the Black community in the US, the UK, Caribbean, and Africa.

 

Black Entrepreneurs

Black technology entrepreneurs are increasingly providing the horsepower that drives the global economy. Over the last two decades, black entrepreneurs have created more jobs, and contributed much more to the economic expansion of the Black community as a whole, than any black pastor or politician. Black entrepreneurs are taking risks and building businesses that generate economic growth and increase prosperity in underserved areas, as more minority-owned and minority-focused businesses emerge, willing to serve the financial needs of Black entrepreneurs. US Black Engineer & Information Technology magazine's annual list of Top Black Technology Entrepreneurs reflects the expanding scope of leading Black entrepreneurs in information technology, homeland security, and defense.