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Johnson Controls completes acquisition of Qolsys
- August 24, 2020
- Steve Rogerson
Johnson Controls has acquired the remaining stake of California-based Qolsys, a residential and commercial security and smart-home manufacturer, after owning a majority since 2014.
Qolsys enhances Johnson Controls innovation platform delivering security and smart building technology. The firm’s founders and leadership will remain in Silicon Valley assuming roles in Johnson Controls global intrusion business.
“Qolsys has grown from a start-up to a leading security platform provider with over 4000 dealers and service providers worldwide,” said Jeff Williams, president of global products at Johnson Controls. “Johnson Controls sees long-term opportunities to bring Silicon Valley innovation and culture to our broader cloud-enabled IoT in building management, fire and HVAC businesses. The opportunity to acquire Qolsys allows Johnson Controls to achieve operational efficiencies and scale across our global markets, while further enhancing the suite of products and services offered on our digital platform, OpenBlue.”
Qolsys recently announced roadmap products including the IQ Hub, a lower-priced, third-generation IQ Panel; the IQ Router, a mesh networking product to address the rapidly complex connected home; IQ Water, a connected water shutoff valve designed for mass market retrofit; and a fourth generation IQ Panel due in 2021 with Qualcomm chipset supporting AI, M2M and connectivity.
The award-winning IQ Panel 2 Plus and peripherals have driven explosive growth in North America and across the globe with future-proof features supported by over-the-air software updates, built-in panel camera, Bluetooth disarming, and installation and diagnostic tools to reduce costs and increase user engagement and satisfaction. Qolsys continues to show consistent growth of services and dealers, which led to $150m in revenues during fiscal year 2019.
“As the world becomes more connected and the innovation curve continues to ramp at unprecedented speed, we are excited to join Johnson Controls,” said Dave Pulling, Qolsys CEO.
Pulling will become vice president and general manager of the global intrusion products business for Johnson Controls, which had $500m in revenue in fiscal year 2019.
“We are committed to our customers in the security channel while continuing to invest in our roadmap and emerging verticals around the globe,” said Pulling. “This is a major milestone in our ten-year journey to disrupt and transform the security industry with advanced cloud-enabled solutions that transcend traditional intrusion offerings including advanced automation, energy management, apartment management, building management and wellness for aging in place.”
The combined volume of Qolsys, DSC, Bentel, Visonic, Power G and Tyco products positions Johnson Controls as the market share leader in advanced security worldwide.
Johnson Controls will offer Qolsys products throughout global markets. The IQ Panel 2 Plus and a full line of security and home automation devices are available from authorised Qolsys distributors.
Qolsys is based in San Jose, California.