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Johnson Controls acquires FogHorn, expanding leadership in Smart and Autonomous BuildingsCORK, Ireland, Jan. 12, 2022 /PRNewswire/ -- Johnson Controls (NYSE: JCI), the global leader for smart, healthy and sustainable buildings, has completed the acquisition of FogHorn, the leading developer of Edge AI software for the industrial and commercial Internet of Things (IoT) solutions. Johnson Controls acquires Foghorn's world-class Edge AI for its OpenBlue smart buildings platform. "Value is increasingly being created by applying intelligence at the edge-device level to create real-time, secure, actionable insights," said Johnson Controls CTO Vijay Sankaran. "By pervasively integrating Foghorn's world class Edge AI throughout our OpenBlue solution portfolio, we are accelerating the pace towards our vision of smart, autonomous buildings that continuously learn, adapt and automatically respond to the needs of the environment and people." As the number of sensors and amount of data in buildings continues to grow exponentially, the value of processing data and applying intelligence at the edge, without having to send data to the cloud, becomes increasingly pronounced. Sastry Malladi, who served as Chief Technology Officer at Foghorn, will join Johnson Controls, reporting to Sankaran as Vice President, OpenBlue Artificial Intelligence. "We are thrilled to bring the Foghorn team and edge AI capabilities to Johnson Controls and OpenBlue," said Sastry Malladi, Foghorn's Chief Technology Officer. "By combining our respective strengths, Johnson Controls can make an even bigger impact on continuing to address some of the world's most pressing challenges of decarbonization, sustainability and energy efficiency, indoor air quality and smart, secure buildings." Financial terms of the transaction were not disclosed. FogHorn's technical team will be integrated into the OpenBlue Solutions organization. FogHorn's headquarters in Sunnyvale, California will function as an 'AI Hub' for Johnson Controls. About Johnson Controls: At Johnson Controls (NYSE:JCI) we transform the environments where people live, work, learn and play. As the global leader in smart, healthy and sustainable buildings, our mission is to reimagine the performance of buildings to serve people, places and the planet. With a history of more than 135 years of innovation, Johnson Controls delivers the blueprint of the future for industries such as healthcare, schools, data centers, airports, stadiums, manufacturing and beyond through its comprehensive digital offering OpenBlue. With a global team of 100,000 experts in more than 150 countries, Johnson Controls offers the world`s largest portfolio of building technology, software as well as service solutions with some of the most trusted names in the industry. For more information, visit www.johnsoncontrols.com or follow us @johnsoncontrols on Twitter. About FogHorn
Johnson Controls International plc Cautionary Statement Regarding Forward-Looking Statements Other factors that could cause Johnson Controls' actual results to differ materially from those expressed include, among others risks related to: Johnson Controls' ability to manage general economic, business, capital market and geopolitical conditions, including the impacts of natural disasters, climate change, pandemics and outbreaks of contagious diseases and other adverse public health developments, such as the COVID-19 pandemic; the strength of the U.S. or other economies; changes or uncertainty in laws, regulations, rates, policies or interpretations that impact Johnson Controls' business operations or tax status; the ability to develop or acquire new products and technologies that achieve market acceptance; changes to laws or policies governing foreign trade, including increased tariffs or trade restrictions; maintaining the capacity, reliability and security of Johnson Controls' enterprise and product information technology infrastructure; the risk of infringement or expiration of intellectual property rights; any delay or inability of Johnson Controls to realize the expected benefits and synergies of recent portfolio transactions such as its merger with Tyco and the disposition of the Power Solutions business; the outcome of litigation and governmental proceedings; the ability to hire and retain key senior management; the tax treatment of recent portfolio transactions; significant transaction costs and/or unknown liabilities associated with such transactions; the availability of raw materials and component products; fluctuations in currency exchange rates; work stoppages, union negotiations, labor disputes and other matters associated with the labor force; the cancellation of or changes to commercial arrangements. A detailed discussion of risks related to Johnson Controls' business is included in the section entitled "Risk Factors" in Johnson Controls' Annual Report on Form 10-K for the 2020 fiscal year filed with the SEC on November 16, 2020, which is available at www.sec.gov and www.johnsoncontrols.com under the "Investors" tab. Shareholders, potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this communication are made only as of the date of this document, unless otherwise specified, and, except as required by law, Johnson Controls assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this communication. Non-GAAP Financial Information
View original content to download multimedia:https://www.prnewswire.com/news-releases/johnson-controls-acquires-foghorn-expanding-leadership-in-smart-and-autonomous-buildings-301459077.html SOURCE Johnson Controls International plc |