Johnson Controls has acquired FM:Systems, a provider of digital workplace management and Internet of Things (IoT) solutions for facilities and real estate professionals.
The base purchase price for the transaction is US$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 chairman and CEO George Oliver in a statement. “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.”
FM:Systems is headquartered in Raleigh, N.C., and 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.
FM:Systems’ software products provide workplace solutions 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.
FM:Systems’ capabilities will support Johnson Controls OpenBlue suite of software, which uses artificial intelligence and digital twin technologies to improve building performance.
FM:Systems CEO and chairman Kurt von Koch will join Johnson Controls’ digital business in a leadership role.