Trane Technologies (NYSE: TT), an Awords, Ireland-based global climate innovator, is to acquire Nuvolo, a Wellesley, MA-based global provider of cloud-based connected workplace and enterprise asset management products and solutions.
The amount of the deal – still subject to regulatory approval, with closing expected in the fourth quarter of 2023 – was not disclosed.
The acqusition expands company’s software-as-a-service (SaaS) and digital capabilities to meet demands for modern workplace and enterprise asset management solutions. It combines Nuvolo’s leading integrated workplace and enterprise asset management workflow software with complementary Trane Technologies’ digital, building management and connected equipment and services capabilities.
Led by Founder and CEO Tom Stanford, who will join Trane Technologies in a leadership role and will continue to lead the business and team of approximately 250 global associates, Nuvolo provides cloud-based connected workplace solutions, built on ServiceNow. Its platform allows users to manage all people, all physical locations, all assets, and all work across the business. Industries served include healthcare, life sciences, retail, public sector, higher education, technology, financial services, and enterprise.
FinSMEs
03/10/2023