Fortive is the parent company of more than 20 technology firms, including Fluke Corporation and Matco.
Everett industrial company Fortive is adding another firm to the growing portfolio of manufacturing and technology businesses it owns.
Fortive announced Monday that it will buy construction software company Gordian for $775 million from private equity firm Warburg Pincus. Gordian, based in Greenville, South Carolina, makes software that tracks costs of construction projects, manages facility operations and generally gives building companies more insight into big projects.
Publicly traded Fortive is the parent of more than 20 companies, many of them longstanding technology businesses including electronics firm Fluke, auto tool business Matco and gasoline dispenser company Gilbarco. It has more than 26,000 employees worldwide, including about 1,400 in the Puget Sound area.
Fortive has spent more than $5.3 billion on mergers and acquisitions since it was formed in a corporate reorganization two years ago. It generally takes a hands-off approach to managing its companies, offering management guidelines but leaving its own name and branding out of the equation.
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Buying Gordian will help Fortive move further into industries that make workflow-management software, Fortive CEO Jim Lico said in a statement Monday.
“Gordian’s over 70 years of proprietary construction cost data and domain expertise and a seasoned management team created the industry standard in construction task data, workflow software and service,” he said.
Gordian will add about $130 million in revenue to Fortive this year, the Everett company estimated. The Gordian deal is expected to close during the third quarter of the year.