Johnson Controls has announced its acquisition of FM:Systems, a digital workplace management and IoT solutions provider for facilities and real estate professionals.
According to the companies, the base purchase price for the transaction isย $455 million, plus additional payments to be made subject to the achievement of post-closing earnout milestones.
FM:Systems, headquartered in Raleigh, North Carolina and owned by Accel-KKR, has more than 200 employees and 1,200 customers, representing more than 2.4 million users across 80 countries.
“FM:Systems’ powerful, predictive workplace management platform will build on our best-in-class building automation services, OpenBlue, to offer a one-stop solution that helps customers accelerate their digital transformation journey, improve building efficiency and reduce operational costs,” said Johnson Controls Chairman and CEO,ย George Oliver.
“Coupled with our building asset solutions, energy management offerings and global field network, this acquisition further differentiates Johnson Controls‘ leadership in the fast-growing segment for autonomous and digitally enabled buildings.”
“Workplace management technology is a key enabler in terms of improving operational efficiency, creating safer, healthier and smarter buildings and supporting sustainability goals. Since our investment in 2017, FM:Systems has become a leader in this space with continued innovation and service excellence, leading to a strong growth profile,” saidย Dean Jacobson, Managing Director at Accel-KKR.
“We are proud of the success accomplished together with the talented team at FM:Systems and we are pleased to see how well FM:Systems fits into and expands Johnson Controls OpenBlue digital capabilities in pursuit of a shared vision to lead in the future of autonomous and connected buildings.”
Johnson Controls highlights that FM:Systems’ software products offer a range of solutions to make workspaces smarter, like space-scenario planning, asset management and facilities maintenance, supported by security protocols, floor plan scenario modeling, bi-direction integration with AutoCAD and Revit models and advanced workplace analytics capabilities.
Its sensors and analytics can help portfolio managers optimize space, realize greater cost savings and help manage and reportย on indoor air and other environmental data in facilities such as commercial real estate, hospitals, universities and government buildings.
FM:Systems CEO and Chairman Kurt von Koch will join Johnson Controls’ digital business in a leadership role.
