CBRE has agreed to acquire Global WorkPlace Solutions (GWS), which is a business run by Johnson Controls, for $1.475bn, which is to be paid in cash. The company will be operating as part of BRE’s Global Corporate Services, which is employed by major corporations and institutions that need to outsource their real estate services. GWS and CBRE services will be available to both companies once the transaction is completed.
CBRE and Johnson Controls also announced a 10-year strategic relationship. CBRE will provide Johnson Controls with a full suite of integrated corporate real estate services (including facilities management, project management and transaction services) on more than 50 million sq. ft. and Johnson Controls will offer a factory-direct relationship on HVAC equipment, building automation systems and related services to CBRE for its managed properties.
The two companies will also fund an innovation lab together that will work to produce new energy management solutions that improve their clients’ work environments.
