United States. In mid-July it was learned that the company Johnson Controls acquired FM: Systems, a provider of digital solutions for work environments and Internet of Things (IoT) The base purchase price was US $ 455 million and additional payments are contemplated if some milestones of earnings are reached after the closing of the transaction.
The software products developed by FM:Systems offer solutions for the intelligent use of workspaces, through scenario planning, asset management and facility maintenance. To that end, each product has security protocols, functions for plant modeling, bidirectional integration of models generated by AutoCAD and Revit, as well as advanced analysis capabilities.
"FM:Systems has a powerful, predictive platform that together with our building automation software suite, OpenBlue, will deliver a comprehensive solution to our customers, while accelerating their digital transformation journey, improving building efficiency and reducing their operating costs," said Johnson Controls President and CEO. George Oliver.
About the acquired company
FM:Systems is headquartered in Raleigh, North Carolina and has more than 200 employees and 1,200 customers, representing more than 2.4 million users in 80 countries.
According to Dean Jacobson, who is CEO of Accel-KKR (former owner of FM:Systems) the newly acquired company by Johnson Controls has achieved an average net income retention of more than 110% since 2020. In addition, it has had double-digit revenue growth with gross and operating margins that are cumulative for new owners.
"Workplace management technology is a key factor in terms of improving operational efficiency and creating safer, healthier and smarter buildings that can meet their sustainability goals," said Jacobson, who attributed the good results to an investment made in 2017 "that has led the company to have a strong growth profile."
