Fortive Corporation acquired Industrial Scientific Corporation for $600 million, a transaction completed in August 2017, structured as All-cash acquisition.
Industrial Scientific Corporation is based in Pittsburgh, Pennsylvania, USA. Industrial Scientific is a provider of portable gas-detection instruments and a pioneer of connected 'safety-as-a-service' monitoring for hazardous industrial environments. Fortive acquired it to accelerate its digital and connected-solutions strategy and strengthen its platform for critical maintenance and worker-safety applications.
Accelerate Fortive's connected-device/digital strategy and expand its gas-detection and safety-monitoring platform.
Advisory firms were not disclosed for this transaction.