JCI buys digital company FM:Systems

USA: Johnson Controls has acquired FM:Systems, a leading digital workplace management and Internet of Things (IoT) solutions provider headquartered in Raleigh, North Carolina. 

The base purchase price for the transaction is $455m, plus additional payments to be made subject to the achievement of post-closing earnout milestones.

Owned by Accel-KKR, FM:Systems has more than 200 employees and 1,200 customers, representing more than 2.4 million users across 80 countries. The company boasts double-digit revenue growth.

“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.

FM:Systems’ software products offer a range of solutions designed to make workspaces smarter, like space-scenario planning, asset management and facilities maintenance, supported by security protocols, floor plan scenario modelling, bi-direction integration with AutoCAD and Revit models, and advanced workplace analytics capabilities.

Kurt von Koch, FM:Systems CEO and chairman will join Johnson Controls’ digital business in a leadership role.