- Johnson Controls International PLC (NYSE: JCI) recently announced this week that it is buying the remaining stake of Qolsys. These are the details.
Johnson Controls International PLC (NYSE: JCI) recently announced this week that it is buying the remaining stake of Qolsys — which is a leading residential and commercial security and smart-home manufacturer — after owning a majority since 2014.
Qolsys is enhancing Johnson Controls’ global innovation platform by delivering next-generation security and smart building solutions. And the Qolsys founders and leadership team will remain in San Jose, CA, assuming key roles in Johnson Controls global intrusion business.
Johnson Controls is continuing its mission to deliver smarter, safer, intelligent, and more connected buildings by deploying emerging technologies such as embedded IP, artificial intelligence, and machine learning through best-in-class solutions and partnerships.
And Johnson Controls is leading a fundamental transformation of how spaces and places are perceived and enjoyed by balancing and responding to the flow of information, services, and people that occupy buildings. By applying data from the inside and outside buildings, Johnson Controls OpenBlue digital platforms empower customers to manage operations while delivering safety and security in dynamic and agile environments.
The 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 innovative installation and diagnostic tools to reduce costs and increase user engagement and satisfaction.
And Qolsys continues to show consistent growth of services and dealers, which led to $150 million in revenues during the fiscal year 2019.
Qolsys CEO Dave Pulling will become vice president and general manager of the global intrusion products business for Johnson Controls, which had $500 million in revenue in the fiscal year 2019.
The combined volume of Qolsys, DSC, Bentel, Visonic, PowerG, and Tyco products positions Johnson Controls as the market share leader in advanced security solutions worldwide.
And Qolsys recently announced a roadmap of products including the IQ Hub, a lower-priced, third-generation IQ Panel; the IQ Router, a next-generation mesh networking solution to elegantly 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 next-generation connectivity.
Johnson Controls is going to offer Qolsys products throughout global markets. And the IQ Panel 2 Plus and a full line of security and home automation devices are available today from Authorized Qolsys distributors.
KEY QUOTES:
“Qolsys has grown from a startup to a leading security platform provider with over 4,000 dealers and service providers worldwide. Johnson Controls sees long-term opportunities to bring Silicon Valley innovation and culture to our broader cloud-enabled IoT solutions 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.”
— Jeff Williams, president of Global Products at Johnson Controls
“As the world becomes more connected and the innovation curve continues to ramp at unprecedented speed, we are excited to join Johnson Controls. We are committed to our customers in the security channel while continuing to invest in our roadmap and emerging verticals around the globe. This is a major milestone in our 10-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.”
— Qolsys CEO Dave Pulling
