Johnson Controls Acquires FM:Systems

July 17, 2023

Johnson Controls has acquired FM:Systems, a Raleigh-based provider of cloud-based digital workplace management and IoT solutions, for a base purchase price of $455 million plus potential earnouts. The deal adds SaaS workplace management capabilities to Johnson Controls' OpenBlue portfolio, expanding its digital buildings offerings and is expected to be accretive to margins and revenue growth.

Buyers
Johnson Controls
Targets
FM:Systems
Sellers
Accel-KKR
Industry
Cloud & SaaS
Location
North Carolina, United States
Transaction Type
Buyout

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