The following is a communication by Invetech’s President Colin White addressing the news that Invetech will join Fortive. Fortive will be a $6 billion Fortune 500 company formed in the second part of 2016 with market leading positions in professional instrumentation, automation and sensing technologies. Invetech will join the Product Realization Segment of Fortive.
As we continue to position Invetech to meet future customer needs, we have some exciting news to share.
Earlier this year our parent company, Danaher, announced that in late 2016 it will separate into two independent, publicly traded companies. The transaction will create a science company, which will retain the name Danaher. A second diversified growth company, with market leading positions and outstanding brands in areas such as professional instrumentation, automation and sensing will also be formed. The name of this new company will be Fortive and I am pleased to announce that Invetech will be joining Fortive as part of the Product Realization Segment. The separation from Danaher is targeted for completion sometime in the second half of 2016, subject to the satisfaction of closing conditions.
Let me explain why I am excited about this change. Firstly, this will position Invetech in the best corporate environment to reach its potential by joining a group of very successful companies and brands, such as Fluke and Tektronix. Invetech will continue to focus on growth and serving customers while we will be able to leverage the global, world-class scale and capabilities of these organizations. Secondly, Fortive is a natural owner of additional products and services in the product realization market. This will enable Invetech to play a broader, more strategic role in the new organization. Finally, the transition will strengthen Invetech’s autonomy and impartiality in its core segments, allowing us to engage more strongly with customers.
At Invetech we believe these changes will greatly benefit our customers. With Fortive’s DNA having its origin in the Danaher Business System (DBS), a culture of high expectations and growth, Invetech will now have even greater access to an expanded foot-print, world-class and low-cost operations and capital to acquire the expertise to meet customers’ needs in the future.
As previously announced, and for reasons unrelated to Invetech joining Fortive, Andreas Knaack will lead Invetech from January 1, 2016. Please feel free to contact myself or Andreas with any questions you may have about this exciting step in our evolution as a company.
On behalf of our organization, I would like to thank you for your continued commitment to Invetech.
Friendly Regards,
Colin White, PhD
President