Johnson Controls acquired FM:Systems, a digital workplace management and Internet of Things (IoT) solutions provider for facilities and real estate professionals. The base purchase price for the transaction is $455 million, plus additional payments to be made subject to the achievement of post-closing earnout milestones.
"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 CEO 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."