The company remains confident that its expected adjusted operating profit margin will beat earlier estimated guidance. The company expects total revenue growth of 25%, with core revenue growth of 20%. In addition, Fortive announced its preliminary results for the second quarter of 2021. The acquisition is expected to close in the third quarter of 2021, subject to mandatory regulatory approvals. He further added, вЂњThe CompanyвЂ™s high-growth SaaS platform, leading contractor network, rich data assets, and existing global footprint will add significantly to the long-term growth and profitability of IOS.вЂќДЇortive intends to utilize available cash on the balance sheet to fund the transaction. ServiceChannel fits extremely well alongside Accruent and Gordian, broadening our offering of software-enabled solutions for the Facility and Asset Lifecycle workflow.вЂќ Lico commented, вЂњThis transaction is another great example of how we continue to use disciplined capital deployment to accelerate our long-term strategy across our segments. Moreover, Fortive expects to achieve a target return on invested capital (ROIC) of 10% in the next five years.ДЇortiveвЂ™s CEO James A. Upon completion, the deal is expected to be accretive to FortiveвЂ™s revenues by 50 bps. The acquisition will complement FortiveвЂ™s Facility and Asset Lifecycle workflow solutions, as well as Accruent and Gordian. Its long-term revenue growth rate is forecast to be in the mid-teens. ServiceChannel is expected to report revenues of $125 million in 2021, with recurring revenues of $117 million. Shares of the company have gained 25% over the past year.ДЇounded in 1999, ServiceChannel is a leading SaaS-based company that provides multi-site maintenance service solutions and has an integrated service-provider network serving over 500 enterprise customers in more than 70 countries. Fortive to Snap up ServiceChannel for $1.2BДЇortive Corporation ( FTV) inked a deal with Bayard Capital and Accel Partners to acquire ServiceChannel in an all-cash transaction worth $1.2 billion.ДЇortive is a diversified industrial technology company providing services to various organizations across attractive end markets.

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