Johnson Controls International plc
Johnson Controls Sells HVAC Business to Bosch for $6.7B
Summary
Johnson Controls International plc announced the sale of its residential and light commercial HVAC business to Bosch Group for $8.1 billion, with Johnson Controls' consideration at approximately $6.7 billion. The transaction, expected to close in about 12 months, will simplify Johnson Controls' portfolio and focus on its commercial buildings solutions. Johnson Controls also provided a preliminary update on its Q3 2024 earnings, expecting adjusted EPS to be slightly ahead of its previously issued guidance range.
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About Johnson Controls International plc
Johnson Controls International plc is a leading diversified technology and multi-industrial company that provides a wide range of products and services across various industries. Its primary function is to optimize building efficiencies, enhance comfort, and ensure safety. The company is widely recognized for its Building Technologies and Solutions division, which offers integrated platforms for HVAC (heating, ventilation, air conditioning), building automation, and security systems. Additionally, Johnson Controls plays a pivotal role in the energy sector through its power solutions, particularly with a focus on developing state-of-the-art battery technologies for automotive and renewable energy applications. As a global leader headquartered in Cork, Ireland, Johnson Controls serves various sectors including residential, commercial, and industrial markets. Its commitment to sustainability and innovation positions it as a significant player in advancing smart building and energy solutions on a global scale.
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