Johnson Controls International Plc [NYSE: JCI] disclosed Friday that it has bought Silent-Aire. The deal has valued Silent-Aire at up to $870 million. It also includes the upfront payment of nearly $630 million and an extra payment to be made dependent on the accomplishment of post-closing earnout targets.
After the acquisition of Silent-Aire, JCI has a chance to increase its focus on the data center vertical. Furthermore, this buying decision will also speed up its growth in this attractive end market by integrating the strengths of its global scale in production and service, with sophisticated innovation and a wide range portfolio of technologies committed to helping hyper-scale suppliers.
Additionally, it has been disclosed that the deal will be concluded in the fiscal third quarter of 2021. The deal will be executed after the fulfillment of certain conditions. The deal is projected to be instantly profitable and add $0.07 to $0.09 to Johnson Controls adjusted EPS from continuing operations in fiscal 2022.
This deal completely supports several of JCI’s crucial strategic growth projects and highlights its focus on generating shareholder value. Additionally, it has been disclosed that the revenue for the FY 2021 of Silent-Aire is projected to value $650 million.
Silent-Aire has it headquarter in Edmonton, Alberta. It has nearly 3,000 workers around the world. It has gained a reputation as the provider of mission-critical data center technology. Moreover, it is dedicated to customer-centeredness and a clear emphasis on sustainable development. Furthermore, the main aim of the firm is sustainability since its inception.