Johnson Controls acquires remaining stake of Qolsys business
Johnson Controls announced Tuesday it has acquired the remaining stake of Qolsys, a residential and commercial security and smart-home manufacturer, after owning a majority since 2014.
The company states that the Qolsys founders and leadership team will remain in Silicon Valley (San Jose, Calif.) 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, in a statement. “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.”
Qolsys’ IQ Panel 2 Plus and peripherals include features supported by over-the-air software updates, built-in panel camera, Bluetooth disarming and installation and diagnostic tools. Qolsys achieved US$150 million in revenues during fiscal year 2019.
“As the world becomes more connected and the innovation curve continues to ramp at unprecedented speed, we are excited to join Johnson Controls,” said Dave Pulling, Qolsys CEO. “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 will become vice-president and general manager of the global intrusion products business for Johnson Controls, which had US$500 million in revenue in fiscal year 2019.
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; 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.
Johnson Controls says it will offer Qolsys products throughout global markets. The IQ Panel 2 Plus and a full line of security and home automation devices are available now from authorized Qolsys distributors.