Fortive In Deal To Buy Provation For $1.43B

Industrial products maker Fortive said it had entered a deal with Clearlake Capital Group to acquire Provation Software Inc, a provider of software solutions used in hospitals, for nearly $1.43 billion, reported Reuters.

Investment firm Clearlake had acquired Provation in 2018. Fortive, which spun out from Danaher in 2016, expects to finance the deal with short-term debt and cash.

The move is the second billion dollar deal that Fortive has announced in the span of about five months. In July, the company said it would buy a facilities management software provider ServiceChannel for $1.2 bln from Bayard Capital and Accel Partners.

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