Tuesday, September 11, 2018

Accruent Sold For $2.0 Billion To Fortive Corporation

Austin-based Accruent, which develops physical asset management software, has been sold by its current private equity owner--Genstar Capital--to publicly held Fortive Corporation. The deal was worth $2.0 billion in cash. Genstar acquired Accruent two years ago. According to Genstar, Accruent doubled its revenues and acquired nine companies, as well as "rapidly expanded international growth" during its ownership.