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Bosch to buy Johnson Controls HVAC portfolio for $8 billion
The companies announced an agreement early Tuesday morning
![Bosch office](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/c3e8bf26-70b5-4d87-bf9b-32a0f79429d1/Untitled_design__10_.png?t=1721663520)
Image: Bosch
Bosch has agreed to buy Johnson Controls’ residential and light commercial HVAC portfolio, including York, for $8 billion.
Why it matters: Johnson Controls is moving away from the residential business and transforming itself into a “comprehensive solutions provider for commercial buildings.”
Background: In January, Johnson Controls announced it was selling its residential and light-commercial HVAC assets, York included, for — at the time — up to $5 billion.
Bosch, Lennox, and Samsung in March were revealed as primary suitors, but until now, there hasn’t been much word.
What’s happening: The deal helps Bosch move away from its automotive segment and nearly doubles its “home comfort business” to ~$10 billion in revenue, Bloomberg noted.
"We are pleased to have reached this pivotal milestone, which accelerates our transformation and positions Johnson Controls as a simpler, higher-growth company," said Johnson Controls CEO George Oliver.
Neither Bosch nor Johnson Controls responded to Homepros’ request for comments.
Looking ahead: The deal, subject to regulatory approval, is expected to close in 12 months.
Note: This story was published on Monday, July 22, as a similar story, but updated early morning on July 23 as the news broke.
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