Johnson Controls International plc
Johnson Controls Completes Sale of HVAC Business to Bosch Group
Summary
Johnson Controls International plc completed the sale of its residential and light commercial HVAC business to Robert Bosch GmbH for approximately $6.7 billion. The transaction, valued at $8.1 billion, resulted in net cash proceeds of approximately $5.0 billion for Johnson Controls. The sale accelerates the company's transformation into a pure-play provider of innovative building solutions. Johnson Controls plans to return a portion of the net proceeds to shareholders through a $5.0 billion accelerated share repurchase program.
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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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