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Johnson Controls Buys Remaining Stake In Qolsys

(RTTNews) - Johnson Controls (JCI) Tuesday said it has acquired the remaining stake of Qolsys Inc., a residential and commercial security and smart-home manufacturer, after owning a majority since 2014.

The Qolsys founders and leadership team will remain in Silicon Valley assuming key roles in Johnson Controls global intrusion business.

"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," said Jeff Williams, president of Global Products, Johnson Controls. "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."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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