Qolsys continues to show consistent growth of services and dealers, which led to $150 million in revenues during fiscal year 2019, according to the company.
CORK, Ireland — Johnson Controls (NYSE: JCI) has acquired the remaining stake in Qolsys, a leading residential and commercial security and smart-home manufacturer, after owning a majority since 2014.
Financial details were not disclosed.
The Qolsys founders and leadership team will remain in San Jose, Calif., assuming key roles in Johnson Controls global intrusion business, according to a press release. Qolsys is said to enhance Johnson Controls’ global innovation platform delivering next generation security and smart building solutions.
“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,” states 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 IQ Panel 2 Plus and peripherals have driven explosive growth in North America and across the globe with future-proof features supported by over-the-air software updates, built-in panel camera, Bluetooth disarming and innovative installation and diagnostic tools to reduce costs and increase user engagement and satisfaction, according to the press release.
Qolsys continues to show consistent growth of services and dealers, which led to $150 million in revenues during fiscal year 2019, according to the company.
“As the world becomes more connected and the innovation curve continues to ramp at unprecedented speed, we are excited to join Johnson Controls,” says Dave Pulling, Qolsys CEO.
Pulling will become vice president and general manager of the global intrusion products business for Johnson Controls, which had $500 million in revenue in fiscal year 2019.
“We are committed to our customers in the security channel while continuing to invest in our roadmap and emerging verticals around the globe. This is a major milestone in our 10-year journey to disrupt and transform the security industry with advanced Cloud-enabled solutions that transcend traditional intrusion offerings including advanced automation, energy management, apartment management, building management and wellness for aging in place,” Pulling continues.
Qolsys recently announced roadmap products including the IQ Hub, a lower-priced, third-generation IQ Panel; the IQ Router, a next-generation mesh networking solution to elegantly address the rapidly complex connected home; IQ Water, a connected water shutoff valve designed for mass market retrofit; and a fourth generation IQ Panel due in 2021 with Qualcomm chipset supporting AI, M2M and next generation connectivity.
The industrial conglomerate will offer Qolsys products throughout global markets. The IQ Panel 2 Plus and a full line of security and home automation devices are available from authorized Qolsys distributors.
Along with Qolsys, Johnson Controls’ global security portfolio includes DSC, Bentel, Visonic, PowerG and Tyco products.