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July 12 , 2021 FORTIVE Fortive to Acquire ServiceChannel for Approximately $ 1.2 Billion and Provides Preliminary Financial Information for the Second Quarter 2021 Leading provider of SaaS - based multi - site solutions - expands Fortive's leading offering of Facility and Asset Lifecycle workflow solutions , alongside Accruent and Gordian • 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 • Acquisition expected to enhance Fortive's revenue growth profile by approximately 50 basis points ; anticipated to reach 10 % ROIC target in 5 years • Fortive Second Quarter 2021 Preliminary Results : Second quarter revenue growth estimated to be approximately 25 % on a year - over - year basis , with core growth of approximately 20 % . Adjusted operating profit margin expected to be above prior guidance EVERETT , Wash .-- ( BUSINESS WIRE ) -- 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 . ServiceChannel was founded in 1999 and serves more than 500 enterprise customers in over 70 countries across the globe , while also maintaining an integrated network of more than 70,000 facilities maintenance service providers . ServiceChannel's SaaS offering enables multi - site owner / operators to manage and automate the full lifecycle of workflows related to the maintenance and repair of their properties and related assets , including work order management , asset tracking , and service provider tracking . The Company's differentiated data - driven platform , which combines software with a service - provider network , draws from millions of data points to intelligently match contractors with jobs , enhancing quality , cost transparency and efficiency . James A. Lico , President and Chief Executive Officer of Fortive , stated : “ We are very excited to announce the pending acquisition of ServiceChannel . 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