ServiceChannel Acquisition by Fortive Corporation
Gunderson Dettmer represented client ServiceChannel, a leading global provider of SaaS-based multi-site facilities maintenance service solutions, in its acquisition by Fortive Corporation. Fortive reached a definitive agreement with ServiceChannel to acquire the company for approximately $1.2 billion. Following the transaction, ServiceChannel is expected to operate independently within Fortive’s Intelligent Operating Solutions segment.
In the announcement of the transaction, CEO of ServiceChannel Tom Buiocchi said, “ServiceChannel has successfully established a leading position solving challenges for facilities owners and operators for more than twenty years, and has significant growth runway ahead of it. With a range of highly complementary assets, and significant resources to support future organic and inorganic growth opportunities, Fortive is the perfect partner to support ServiceChannel in the next leg of our journey.”
The Gunderson deal team was led by Andrew Luh, Adan Muller and Hilary Adams and included Ken McVay, David Sharrow, Jace Clegg, Romica Singh, Cindy Douthwaite, Eli Heller, Emily Lieberman, Thomas Malinowsky, Emily Miller, Khadijah Owens, Darien Pun, Sienna White and Tina Xu.