Fortive Corporation acquires ServiceChannel Holdings, Inc.
The deal at a glance
Fortive Corporation acquired ServiceChannel Holdings, Inc. for approximately $1.2 billion in cash (includes ~$28M deferred compensation), a transaction completed in August 2021, structured as all cash.
ServiceChannel Holdings, Inc. operates in Intelligent Operating Solutions, is based in New York, New York, had revenue of about approximately $70 million (2020). ServiceChannel is a privately held, global provider of SaaS-based multi-site facilities maintenance service solutions with an integrated service-provider network. The acquisition broadens Fortive's offering of software-enabled solutions for the facility and asset lifecycle workflow. ServiceChannel had revenue in 2020 of approximately $70 million.
Broadens Fortive's offering of software-enabled solutions for the facility and asset lifecycle workflow.
Recurring SaaS revenue extending the facility and asset lifecycle workflow platform alongside Accruent. Intelligent Operating Solutions
No advisory firms have been disclosed for this transaction.