Benzinga | Jul 12, 2021 04:16PM EDT

Fortive To Acquire ServiceChannel For $1.2B

Fortive Corporation ("Fortive") (NYSE:FTV) announced today that it has entered into a definitive agreement with Bayard Capital and Accel Partners to acquire ServiceChannel, a leading global provider of SaaS-based multi-site facilities maintenance service solutions with an integrated service-provider network. The acquisition will be subject to customary closing conditions, including regulatory approvals, and will be financed primarily with available cash. Fortive anticipates that the acquisition will close in the third quarter of 2021.