On June 7, 1999, Honeywell was acquired by AlliedSignal, who elected to retain the Honeywell name for its brand recognition. The former Honeywell moved their headquarters of 114 years to AlliedSignal's in Morristown, New Jersey. While "technically, the deal looks more like an acquisition than a merger...from a strategic standpoint, it is a merger of equals." AlliedSignal's 1998 revenue was reported at $15.1 billion to Honeywell's $8.4 billion, but together the companies share huge business interests in aerospace, chemical products, automotive parts, and building controls.