Fortive To Buy Gordian For About $775 Mln In Cash

(RTTNews) - Fortive Corporation (FTV) said that that it has entered into a definitive agreement with Warburg Pincus to acquire Gordian, a privately-held, provider of construction cost data, software and service, for $775 million.

The acquisition will be subject to customary closing conditions, including regulatory approvals, and will be financed with available cash.

The transaction is expected to close in the third quarter, 2018.

Fortive expects Gordian to generate approximately $130 million of revenue in 2018. Upon closing, Gordian will become part of Fortive's Field Solutions platform (comprising Fluke, Qualitrol, and Industrial Scientific) within Fortive's Professional Instrumentation segment.