Fortive to acquire ServiceChannel for ~$1.2B; Q2 prelim revenue growth ~25% YoY

Fortive Corp

Acquires ServiceChannel for $1.2B in cash; expected to close Q3 2021.
ServiceChannel projected to generate ~$125M revenue in 2021, ~$117M recurring.
Preliminary Q2 2021: total revenue growth ~25% YoY, core growth ~20%.
Adjusted operating profit margin expected above prior guidance in Q2.
Acquisition to enhance revenue growth by ~50 bps; 10% ROIC target in 5 years.

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