Fortive Corp. Buying Industrial Scientific
Fortive is a diversified industrial growth company comprised of professional instrumentation and industrial technologies businesses that are recognized leaders in attractive markets. The company's 2016 revenues were $6.2 billion.
Fortive Corporation recently announced it has signed a definitive agreement to acquire Industrial Scientific Corporation, a leading, Pittsburgh-based provider of portable gas detection equipment. Fortive, based in Everett, Wash., is publicly traded and until July 2, 2016, operated as part of Danaher Corp. Information on its website indicates Fortive is a diversified industrial growth company comprised of professional instrumentation and industrial technologies businesses that are recognized leaders in attractive markets, and the company's 2016 revenues were $6.2 billion.
Fortive's brands hold leading positions in field instrumentation, transportation, sensing, product realization, automation and specialty, and franchise distribution, and the company employs more than 24,000 R&D, manufacturing, sales, distribution, service, and administrative employees in more than 40 countries.
For the second quarter ended June 30, 2017, its net earnings were $240.1 million.
James A. Lico, president and CEO, said he looks forward to welcoming Industrial Scientific's employees to the Fortive team, saying the addition of IndSci "accelerates our digital strategy and creates a stronger platform for connected solutions for critical applications in maintenance and safety."