Johnson Controls acquires FM:Systems from Accel-KKR for $455M base price

Johnson Controls acquired FM:Systems, a digital workplace management and IoT software provider previously owned by PE firm Accel-KKR, for a $455 million base price plus earnout. FM:Systems' CEO will join Johnson Controls in a leadership role.

“Johnson Controls acquired FM:Systems, a digital workplace management and Internet of Things (IoT) solutions provider for facilities and real estate professionals. The base purchase price for the transaction is $455 million, plus additional payments to be made subject to the achievement of post-closing earnout milestones.”

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