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July 16, 2021

Fortive

Fortive announced that it has entered into a definitive agreement with Bayard Capital and Accel Partners to acquire ServiceChannel, a global provider of SaaS-based multi-site facilities maintenance service solutions. Fortive anticipates that the acquisition will close in the third quarter of 2021. ServiceChannel was founded in 1999 and serves more than 500 enterprise customers in over 70 countries, while also maintaining an integrated network of more than 70,000 facilities maintenance service providers. Fortive expects ServiceChannel to generate approximately $125 million of revenue in 2021. The purchase price is $1.2 billion. ServiceChannel is expected to be an independent operating company within Fortive's Intelligent Operating Solutions segment. Fortive, a provider of technologies for connected workflow solutions across a range of end-markets, is headquartered in Everett and employs a team of more than 17,000 research and development, manufacturing, sales, distribution, service and administrative employees in more than 50 countries around the world.




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