Fortive

In September 2016, Fortive subsidiary Fluke, which specializes in electronic test equipment, acquired eMaint, a CMMS IIoT system.{{Cite web|title=Fluke Acquires eMaint Enterprises|url=https://www.fluke.com/en-us/support/press-releases/fluke-acquires-emaint-enterprises|access-date=2020-06-28|website=www.fluke.com|language=en-us}} In October 2016, another subsidiary Gilbarco Veeder-Root which specializes in industrial sales software, purchased Global Transportation Technologies (GTT), a provider in traffic management.{{Cite news|date=2016-10-28|title=TorQuest Partners Sells GTT to Gilbarco|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/torquest-partners-sells-gtt-to-gilbarco-1477675788|access-date=2020-06-28|issn=0099-9660}}{{Cite web|last=|first=|date=|title=Everett-based Fortive buys another software company for $2 billion|url=https://www.bizjournals.com/seattle/news/2018/08/01/everett-fortive-buys-software-company-accruent.html|access-date=|website=}}

In July 2017, Fortive acquired Pittsburgh-based Industrial Scientific,{{Cite journal |date=2017-09-02 |title=Industrial Scientific acquired by Fortive Corporation |url=https://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=125363898&lang=en-gb&site=eds-live&scope=site |journal=Industrial Safety & Hygiene News |pages=22}} which manufactures gas detection products.{{Cite web|title=Industrial Scientific Welcomes New Owner, Fortive Corporation|url=https://www.indsci.com/en/resources/press-releases/new-owner-fortive-corporation/|access-date=2020-08-29|website=www.indsci.com}} Fortive established their second quarters in the Industrial Scientific building housing many of their data science and analytics teams.

In September 2017, Fortive purchased Landauer for $770 million.{{Cite web|title=Fortive to Acquire Landauer for $67.25 Per Share, or Approximately $770 Million|url=https://investors.fortive.com/press-releases/press-release-details/2017/Fortive-to-Acquire-Landauer-for-6725-Per-Share-or-Approximately-770-Million/default.aspx|access-date=2020-06-28|website=investors.fortive.com|date=September 6, 2017 |language=en-US}} Landauer is a provider of subscription-based technical and analytical services to determine occupational and environmental radiation exposure, as well as a domestic provider of outsourced medical physics services. They are headquartered in Glenwood, Illinois.

Fortive subsidiary Gilbarco Veeder Root acquired Orpak Systems, which delivers technologies to oil companies and commercial fleets.{{Cite web|title=Gilbarco Veeder-Root Acquires Orpak Systems {{!}} Gilbarco Veeder-Root|url=https://www.gilbarco.com/us/blog/gilbarco-veeder-root-acquires-orpak-systems|access-date=2020-08-29|website=www.gilbarco.com}}

In July 2018, Fortive announced it was buying software firm Accruent for about $2 billion.{{Cite news|date=2018-07-31|title=Fortive to buy software maker Accruent for $2 billion|language=en|work=Reuters|url=https://www.reuters.com/article/us-accruent-m-a-fortive-idUSKBN1KL1NO|access-date=2020-06-28}} Accruent makes software to track real estate and facilities.{{Cite news|url=https://www.seattletimes.com/business/technology/everetts-fortive-scoops-up-software-company-for-2-billion/|title=Everett's Fortive scoops up software company for $2 billion|date=2018-07-31|work=The Seattle Times|access-date=2018-08-01|language=en-US}} Also in July 2018, Fortive announced it would buy construction software company Gordian for $775 million from private equity firm Warburg Pincus. Gordian, based in Greenville, South Carolina, makes software that tracks costs of construction projects, manages facility operations and generally gives building companies more insight into big projects.{{Cite web|last=Lerman|first=Rachel|date=2018-07-02|title=Everett-based Fortive to buy construction tech company Gordian for $775 million|url=https://www.seattletimes.com/business/technology/everett-based-fortive-to-buy-construction-tech-company-gordian-for-775-million/|access-date=2020-06-28|website=The Seattle Times|language=en-US}} In December 2018 Tektronix acquired Initial State.{{citation needed|date=July 2021}}

In June 2018, Fortive made a binding offer to buy Johnson & Johnson's Advanced Sterilization Products (ASP) business.{{Cite web|title=Johnson & Johnson to Sell Advanced Sterilization Products to Fortive for $2.8 Billion|url=https://www.biospace.com/article/johnson-and-johnson-to-sell-advanced-sterilization-products-to-fortive-for-2-8-billion/|access-date=2020-06-28|website=BioSpace|date=June 7, 2018 |language=en-US}} The deal was valued at $2.8 billion, made up of $2.7 billion in cash from Fortive and $0.1 billion of retained net receivables, and closed in April 2019.{{Cite web|date=2019-04-01|title=Fortive Completes Acquisition of Advanced Sterilization Products Business from Johnson & Johnson|url=https://www.businesswire.com/news/home/20190401005764/en/Fortive-Completes-Acquisition-Advanced-Sterilization-Products-Business|access-date=2020-06-28|website=www.businesswire.com|language=en}} Furthering their investment in healthcare, in November 2019 Fortive acquired Censis Technologies, a SaaS-based provider of inventory management in the surgical field, headquartered in Franklin, Tenn., from Riverside, a global private equity firm headquartered in Cleveland Ohio. Terms of the deal were not disclosed.{{Cite web|date=2019-11-11|title=Riverside sells Censis Technologies to Fortive|url=https://www.crainscleveland.com/finance/riverside-sells-censis-technologies-fortive|access-date=2020-06-28|website=Crain's Cleveland Business|language=en}}

In July 2019, Fluke acquired Germany based Pruftechnik, in precision laser shaft alignment, condition monitoring, and non-destructive testing,{{Cite web|title=Fluke Corporation acquires PRUFTECHNIK {{!}} Press Release {{!}} PRUFTECHNIK|url=https://www.pruftechnik.com/com/Press-and-Events/Press-and-News/Press-releases-and-News/News-Detail-page_248833.html#:~:text=Ismaning,%20Germany,%20July%2019,%202019%20%E2%80%93%20Fluke%20Corp.,,laser%20shaft%20alignment,%20condition%20monitoring,%20and%20non-destructive%20testing.|access-date=2020-06-28|website=www.pruftechnik.com}} to further their reliability business unit.{{Cite web|last=N|first=R.|title=Fluke Corporation acquires Pruftechnik|url=https://delta-p-online.com/2019/07/25/fluke-corporation-acquires-pruftechnik/|access-date=2020-06-28|language=en-US|archive-date=October 24, 2020|archive-url=https://web.archive.org/web/20201024035831/https://delta-p-online.com/2019/07/25/fluke-corporation-acquires-pruftechnik/|url-status=dead}}

In addition to previous acquisitions, like Predictive Solutions (Jan 2017){{Cite web|title=Predictive Solutions Launches New, Simplified Level of SafetyNet|url=https://www.prweb.com/releases/predictive_solutions_launches_new_simplified_level_of_safetynet/prweb13975147.htm|access-date=2020-07-08|website=PRWeb}} and ActiveBlu (2017),{{Cite web|title=Industrial Scientific {{!}} About Us {{!}} The Global Leader in Gas Detection|url=https://www.indsci.com/about-us/|access-date=2020-07-08|website=www.indsci.com|archive-date=June 17, 2020|archive-url=https://web.archive.org/web/20200617070759/https://www.indsci.com/about-us/|url-status=dead}} Industrial Scientific has made multiple acquisitions as part of Fortive. In June 2019 Industrial Scientific entered in a definitive agreement to buy Canadian based Intelex, a provider of SaaS-based Environmental, Health, Safety and Quality (EHSQ) management software.{{Cite web|date=2019-06-06|title=INTELEX ANNOUNCES DEFINITIVE AGREEMENT TO BE ACQUIRED BY INDUSTRIAL SCIENTIFIC|url=https://www.intelex.com/about/press-room/intelex-announces-definitive-agreement-be-acquired-industrial-scientific|access-date=2020-06-28|website=www.intelex.com|language=en-us}} The following month (July 2019), Industrial Scientific entered a definitive agreement to acquire SAFER Systems, a provider for the chemical, oil & gas, and transportation industries.{{Cite web|title=Industrial Scientific Acquires SAFER Systems®, Leader in Real-Time Plume Monitoring|url=https://www.indsci.com/resources/press-releases/Industrial-scientific-acquires-safer-systems/|access-date=2020-07-08|website=www.indsci.com|archive-date=July 8, 2020|archive-url=https://web.archive.org/web/20200708024400/https://www.indsci.com/resources/press-releases/Industrial-scientific-acquires-safer-systems/|url-status=dead}}

In November, Intelex Technologies, a subsidiary of Industrial Scientific, announced that it has acquired ehsAI, a compliance automation technology provider.{{Cite web|last=GmbH|first=finanzen net|title=EHSQ Management Just Got Smarter: Intelex Acquires Compliance Automation Provider ehsAI {{!}} Markets Insider|url=https://markets.businessinsider.com/news/stocks/ehsq-management-just-got-smarter-intelex-acquires-compliance-automation-provider-ehsai-1029820655|access-date=2020-11-23|website=markets.businessinsider.com|language=en-us}}

In July Fortive exercised their option on TeamSense, finalizing the acquisition from PSL.{{Cite web|title=Fortive Acquires TeamSense - A Major Success in Corporate Innovation|url=https://www.psl.com/feed-posts/fortive-acquires-teamsense-a-major-success-in-corporate-innovation|access-date=2021-07-12|website=www.psl.com}} Later that month, Fortive 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{{buzzword inline|date=November 2021}} with an integrated service-provider network. Fortive anticipates that the acquisition will close in the third quarter of 2021. ServiceChannel FY 2021 revenue expected to be approximately $125 million (recurring revenue of approximately $117 million); expected long-term revenue growth rate of mid-teens. This acquisition expected to enhance Fortive’s revenue growth profile by approximately 50 basis points; anticipated to reach 10% ROIC target in 5 years. The purchase price for the acquisition is approximately $1.2 billion and is expected to be funded primarily with available cash. Upon closing, ServiceChannel is expected to be an independent operating company within Fortive’s Intelligent Operating Solutions segment. ServiceChannel expands Fortive’s leading offering of Facility and Asset Lifecycle workflow solutions{{buzzword inline|date=November 2021}}, alongside Accruent and Gordian.{{Cite web|title=Fortive to Acquire ServiceChannel for Approximately $1.2 Billion and Provides Preliminary Financial Information for the Second Quarter 2021|url=https://ca.finance.yahoo.com/news/fortive-acquire-servicechannel-approximately-1-201500699.html|access-date=2021-07-12|website=ca.finance.yahoo.com|language=en-CA}} It was announced in December Fortive entered into an agreement to buy healthcare software maker Provation from private equity firm Clearlake Capital Group. {{Cite web|title=Fortive to buy healthcare software maker Provation for $1.43 bln|url=https://www.reuters.com/markets/deals/fortive-buy-provation-software-143-billion-2021-12-03/|access-date=2021-12-03|website=www.reuters.com}}

In October 2023, Fortive acquired German manufacturer Elektro-Automatik for $1.45 billion to strengthen Fortive's position in the electronic test and measurement market.{{Cite news |date=2023-10-23 |title=Fortive acquires German manufacturer Elektro-Automatik for $1.45 bln |language=en |work=Reuters |url=https://www.reuters.com/markets/deals/fortive-acquires-german-manufacturer-elektro-automatik-145-bln-2023-10-23/ |access-date=2023-10-23}}{{Cite journal |last=Fortive Corporation |date=23 October 2023 |title=Fortive to Acquire EA Elektro-Automatik, an Industry-leading Provider of Electronic Test & Measurement Solutions |url= |journal=Business Wire (English)}}

In October 2018, Fortive spun off their automation businesses, namely, Kollmorgen, Thomson, Portescap, Jacobs Vehicle Systems, and associated subsidiaries to Altra Industrial Motion{{Cite web|last=|first=|date=|title=Altra Industrial Motion Corp. Completes Combination with Fortive's Automation & Specialty Platform|url=https://www.altramotion.com/newsroom/2018/10/altra-completes-combination-with-fortive-brands|access-date=2020-06-28|website=www.altramotion.com}} for an estimated $3 billion.{{Cite news|date=2018-03-07|title=Altra Industrial to buy Fortive units in $3 billion deal|language=en|work=Reuters|url=https://www.reuters.com/article/us-fortive-m-a-altra-idUSKCN1GJ1OZ|access-date=2020-06-28}}

In September 2019, Fortive announced its intention to split into two separate publicly traded companies.{{Cite web|last=Cornell|first=Joe|title=Fortive (FTV) Announces Intention to Separate Into Two Independent Publicly Traded Companies|url=https://www.forbes.com/sites/joecornell/2019/09/09/fortive-ftv-announces-intention-to-separate-into-two-independent-publicly-traded-companies/|access-date=2020-06-28|website=Forbes|language=en}} In January 2020, the name of the new company was announced as Vontier. Vontier would comprise the transportation and franchises businesses. Specifically, the spin off would include Gilbarco Veeder Root, Matco Tools, Hennessey, GTT, Teletrac Navman, and associated subsidiaries.{{Cite web|date=2020-01-20|title=Fortive Announces New Global Industrial Company: Vontier|url=https://www.inddist.com/company-expansion-consolidation/news/21111298/fortive-announces-new-global-industrial-company-vontier|access-date=2020-06-28|website=Industrial Distribution|language=en-us}} An IPO was estimated to yield $1 billion, but was postponed in April 2020 due to uncertainty in the market stemming from the COVID pandemic.{{Cite web|last=Capital|first=Contributor Renaissance Capital Renaissance|title=Fortive carve-out Vontier withdraws estimated $1 billion IPO|url=https://www.nasdaq.com/articles/fortive-carve-out-vontier-withdraws-estimated-%241-billion-ipo-2020-04-30|access-date=2020-06-28|website=www.nasdaq.com|language=en}} Instead, Fortive chose to spin the business off to shareholders in October 2020 without first having the IPO.{{Cite web|last=Cornell|first=Joe|title=Fortive To Spin-Off 80.1% Of Vontier To Its Shareholders In 4Q20|url=https://www.forbes.com/sites/joecornell/2020/09/09/fortive-to-spin-off-801-of-vontier-to-its-shareholders-in-4q20/|access-date=2020-10-11|website=Forbes|language=en}}{{Cite web |last=Schultz |first=Clark |date=2020-10-09 |title=Vontier starts trading after breaking free from Fortive (NYSE:VNT) |url=https://seekingalpha.com/news/3621026-vontier-starts-trading-after-breaking-free-from-fortive |access-date=2020-10-11 |website=Seeking Alpha |language=en}} Upon separation, Vontier replaced Noble Energy as a member of the S&P 500.{{Cite web|last=|first=|date=|title=Vontier To Replace Noble Energy In S&P 500|url=https://www.nasdaq.com/articles/vontier-to-replace-noble-energy-in-sp-500-2020-10-05|access-date=|website=}}

Historically, growth in Fortive's portfolio companies had primarily come from M&A activity and operational excellence under the vaunted Danaher Business System.{{Cite web|title=Danaher and its Business System - A Model of Excellence|url=https://digital.hbs.edu/platform-rctom/submission/danaher-and-its-business-system-a-model-of-excellence/|access-date=2020-06-28|website=Technology and Operations Management|language=en-US}} Fortive has sought to achieve organic growth through establishing a culture of experimentation and innovation. Early on, this meant working with Innovators DNA to incorporate best practices.{{Cite web|title=Curtis Lefrandt – Gilbarco's Annual Retail Technology Conference|url=http://rtc.gilbarco.com/speaker/curtis/|access-date=2020-06-28|language=en-US|archive-date=June 30, 2020|archive-url=https://web.archive.org/web/20200630023922/http://rtc.gilbarco.com/speaker/curtis/|url-status=dead}} Fortive's approach has proved successful. Notable new product introductions have included Tektronix MS05X "Elemental",{{Cite web|title=Fortive Awards Innovative Teams for a Job Well Done {{!}} Fortive|url=https://www.fortive.com/news-events/fortive-awards-innovative-teams-job-well-done|access-date=2020-06-28|website=www.fortive.com}} Fluke's T6,{{Cite web|title=2018 Fortive Innovation Awards {{!}} Fortive|url=https://www.fortive.com/news-events/2018-fortive-innovation-awards|access-date=2020-06-28|website=www.fortive.com|archive-date=June 28, 2020|archive-url=https://web.archive.org/web/20200628181927/https://www.fortive.com/news-events/2018-fortive-innovation-awards|url-status=dead}} Invetech's Formulate and Fill platform,{{Cite web|title=Invetech's Formulate and Fill Platform Wins Fortive Innovation Award|url=https://www.invetechgroup.com/news/2019/12/formulate-fill-platform-fortive-innovation-award/|access-date=2020-06-28|website=Invetech|language=en-US}} Anderson-Negele's paperless recorder,{{Cite web|title=PPR Paperless Recorder Instrumentation & Controls, Pasteurization Controls Products {{!}} Anderson-Negele USA|url=https://www.anderson-negele.com/us/p/pasteurization-controls/ppr-paperless-recorder/|access-date=2020-06-28|website=Anderson-Negele North America|language=en-US}} and Fluke's ii900.{{Cite web|title=Leak Detector {{!}} ii900 Sonic Industrial Imager Acoustic Imaging Camera|url=https://www.fluke.com/en-us/product/industrial-imaging/sonic-industrial-imager-ii900|access-date=2020-06-28|website=www.fluke.com|language=en-us}} In the middle of the COVID pandemic, when there was a shortage of N-95 masks, ASP quickly innovated on existing technology to allow hospitals to clean masks.{{Cite web|date=2020-04-16|title=Fortive CEO on sterilizing masks|url=https://www.cnbc.com/video/2020/04/16/fortive-ceo-on-sterilizing-masks.html|access-date=2020-06-28|website=CNBC|language=en}}

In May 2020, Fortive partnered with Pioneer Square Labs (PSL) to launch tech startups.{{Cite web|title=Fortive and PSL Form Joint Innovation Studio to Create New Companies|url=https://news.yahoo.com/fortive-psl-form-joint-innovation-201700854.html|access-date=2020-06-28|website=news.yahoo.com|language=en-US}} In June 2020, Fortive, in partnership with PSL, launched TeamSense.{{Cite web|title=About|url=https://www.teamsense.com/about|access-date=2020-06-28|website=www.teamsense.com}}

Fortive's culture dates back to the Toyota Production System adopted by Danaher. At Fortive it has been branded as the Fortive Business System or FBS for short.{{Cite web|title=Fortive Business System FBS {{!}} Fortive|url=https://www.fortive.com/continuous-improvement-culture|access-date=2020-06-28|website=www.fortive.com}} FBS has been referenced on multiple earnings calls as a key driver for sustained growth and operational excellence within the various operating companies.{{Cite web|title=Fortive Corporation - Events/Presentations|url=https://investors.fortive.com/events-and-presentations/default.aspx|access-date=2020-06-28|website=investors.fortive.com}} Fortive's culture around integrity and compliance has led to several initiatives around Inclusion and Diversity.{{Cite web|title=Inclusion & Diversity {{!}} Fortive|url=https://www.fortive.com/inclusion-diversity|access-date=2020-06-28|website=www.fortive.com}} Fortive has been named among the best places to work for LGBTQ Equality by the Human Rights Campaign several times.{{Cite web|title=HRC's 2020 Corporate Equality Index|url=https://www.hrc.org/campaigns/corporate-equality-index/|access-date=2020-06-29|website=Human Rights Campaign|language=en}}

Fortive allows each of its associates a paid day of leave each year to volunteer in their local community.{{Cite web|title=Fortive Day of Caring|url=https://www.ceoaction.com/actions/fortive-day-of-caring/|access-date=2020-06-28|website=CEO Action for Diversity & Inclusion|language=en-US}} In 2020, Newsweek named Fortive as one of their top 500 most responsible companies.{{Cite web|last=|first=|date=November 20, 2019|title=America's Most Responsible Companies 2020|url=https://www.newsweek.com/americas-most-responsible-companies-2020|access-date=|website=Newsweek}}

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Category:American companies established in 2016

Category:Holding companies established in 2016

Category:Companies listed on the New York Stock Exchange

Category:Companies based in Everett, Washington

Category:Conglomerate companies of the United States

Category:2016 establishments in Washington (state)

Category:Corporate spin-offs

Category:Danaher Corporation