Johnson Controls International plc has acquired the remaining stake in San Jose-based Qolsys Inc. after originally acquiring a majority stake in 2014.
The 2014 deal was done by Tyco International, which was acquired by JCI in 2016. The acquisition moved JCI’s headquarters to Ireland, although the company’s operational headquarters remains in Glendale.
Qolsys products include the IQ Panel and other peripherals for home and commercial security and automation.
Foxconn Industrial Internet announced in September 2019 it would make IQ Panels, a touchscreen tablet with built-in camera, cellular and WiFi connectivity and connections to home security devices, at the company’s facilities in Mount Pleasant.
Qolsys had $150 million in revenue in fiscal 2019, according to a JCI announcement, and recently announced a product roadmap that includes next-generation mesh networking, a connected water shutoff valve for mass market retrofits and future generations of its panel offering.
“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.
Dave Pulling, Qolsys chief executive officer, 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.
“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 said.
