Industrial Scientific, a global leader in connected sensing technology and a wholly-owned subsidiary of Fortive Corporation (NYSE: FTV), is pleased to announce that it has signed a definitive agreement with JMI Equity to acquire Intelex Technologies for approximately $570M. The acquisition is subject to customary closing conditions, including regulatory approvals.
Intelex is a recognized leader in the environmental, health & safety, and quality (EHSQ) management space and focuses on improving business performance for its customers. Through an integrated platform, Intelex customers manage environmental compliance, work to prevent occupational illness and injury, and establish processes to achieve quality objectives. Intelex currently serves over 1,100 global customers, and 2.6 million users.
The acquisition brings together Industrial Scientific’s strength in connected sensing and predictive analytics with Intelex’s industry-leading program, workforce, and asset management capabilities that enable world class EHSQ performance. The combination heralds a new category of company better positioned to solve emerging customer challenges.
“We are building the company that our customers need; one capable of improving safety and productivity in the field while also being the system of record for EHSQ data,” said Justin McElhattan, president of Industrial Scientific. “We are excited by the opportunity to expand our connected safety capabilities into the global EHSQ software space and beyond.”
“This transaction accelerates our vision of enhancing environmental, worker health & safety, and quality programs through cyber-physical approaches,” said Mark Jaine, CEO of Intelex. “It also allows us to extend our reach into new markets on a global scale, drawing on the strengths of both companies to deliver deeper EHSQ automation that serves the needs of our customers.”
The transaction is expected to close in the third quarter of 2019. Upon closing, Intelex will be operated as a stand-alone company inside of Industrial Scientific.
INDUSTRIAL SCIENTIFIC CORPORATION, www.indsci.com