Fortive completed the acquisition of ServiceChannel from Bayard Capital and Accel for c.$1.2bn.

Fortive, a diversified industrial growth company, completed the acquisition of ServiceChannel, a designer and developer of facility management software, from Bayard Capital and Accel Partners, two investment firms, for c.$1.2bn. “This transaction is another great example of how we continue to use disciplined capital deployment to accelerate our long-term strategy across our segments. ServiceChannel fits extremely well alongside Accruent and Gordian, broadening our offering of software-enabled solutions for the Facility and Asset Lifecycle workflow. The Company’s high-growth SaaS platform, leading contractor network, rich data assets, and existing global footprint will add significantly to the long-term growth and profitability of IOS," James Lico, Fortive CEO.