Johnson Controls has acquired FM:Systems, a leading digital workplace management and Internet of Things (IoT) solutions provider for facilities and real estate professionals.
The base purchase price for the transaction is $US455 million, plus additional payments to be made subject to the achievement of post-closing earnout milestones.
Johnson Controls chair and CEO, George Oliver, said FM:Systems’ powerful, predictive workplace management platform will build on its OpenBlue solution which helps customers accelerate their digital transformation journey to improve building efficiency and reduce operational costs.
"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,” Oliver said.
FM:Systems is headquartered in Raleigh, North Carolina, and is owned by Accel-KKR.
The company has more than 200 employees and 1,200 customers, representing more than 2.4 million users across 80 countries.
Accel-KKR managing director, Dean Jacobson, said 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,” he said.
“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."
FM:Systems innovative 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.
Improving the experience of everyone inside, from visitors to occupants to building managers, its powerful sensors and analytics can help portfolio managers optimise space, realise greater cost savings, and help manage and report on indoor air and other environmental data in facilities as diverse as commercial real estate, hospitals, universities, and government buildings.
FM:Systems CEO and chair, Kurt von Koch will join Johnson Controls' digital business in a leadership role.