Fortive Corporation acquires Accruent, LLC (Athena SuperHoldCo, Inc.)
The deal at a glance
Fortive Corporation acquired Accruent, LLC (Athena SuperHoldCo, Inc.) for approximately $2.0 billion net of acquired cash, a transaction completed in September 2018, structured as all cash.
Accruent, LLC (Athena SuperHoldCo, Inc.) operates in Industrial Technologies / software, is based in Austin, Texas. Accruent is a recognized leader in the facilities asset management software industry, combining deep domain and industry capabilities with an integrated, cloud-based framework that provides insights spanning the full lifecycle of real estate, facilities and assets. Acquired through purchase of all outstanding shares of Athena SuperHoldCo, Inc. from Genstar Capital.
Establishes a leading SaaS platform for facilities and asset lifecycle management within Fortive's software portfolio.
Cloud-based recurring-revenue SaaS leader in facilities and asset management. Industrial Technologies segment (later Intelligent Operating Solutions)
No advisory firms have been disclosed for this transaction.