Fortive to Acquire Accruent for Approximately $2.0 Billion in Cash

Fortive Corporation announced that it has entered into a definitive agreement with Genstar Capital to acquire Accruent, a privately-held, leading provider of physical resource management software for approximately $2.0 billion in cash.  The acquisition is subject to customary closing conditions, including regulatory approvals, and will be financed with available cash and proceeds from borrowings.  Fortive also announced today the completion of its acquisition of Gordian.

Accruent is a recognized leader in the physical resource management 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 asset management.  

The transaction is expected to close in the third quarter of 2018.  Fortive expects Accruent to generate approximately $270 million of revenue in 2018.  Upon closing, Accruent will become part of Fortive’s Field Solutions platform (comprising Fluke, Qualitrol, Industrial Scientific and Gordian) within Fortive’s Professional Instrumentation segment.