|By Marketwired .||
|November 21, 2012 08:09 PM EST||
SYDNEY, AUSTRALIA -- (Marketwire) -- 11/22/12 -- Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:BAM)(EURONEXT:BAMA), and global diversified technology and industrial leader Johnson Controls have agreed to merge their Australian and New Zealand property and facility services operations to create Brookfield Johnson Controls.
The merged entity will combine the local operations of Brookfield Multiplex Services, which provides real estate, facilities and project management services to a range of large corporate and government occupiers, with the Australian and New Zealand business of Johnson Controls Global WorkPlace Solutions (GWS), a leading provider of facilities, corporate real estate and energy management services.
-- Brookfield Johnson Controls will combine Johnson Controls GWS's global operating model, industry expertise and technology expertise with Brookfield Multiplex Services' regional infrastructure, local knowledge and established real estate, facilities and project management capabilities. -- The merged entity will manage more than 3.9 million square metres of property in more than 9,200 locations around Australia and New Zealand. Its revenue will be approximately $250 million, with a goal to double the size of the business over the next five years. -- The company's client base includes major global corporations such as Agilent Technologies, GlaxoSmithKline and Cisco, along with a number of federal, state and local government agencies.
Jon McCormick, managing director, Brookfield Johnson Controls, said: "This merger creates a new fully integrated real estate, facilities and project management provider, one of only a handful of companies in Australia and New Zealand able to offer such a broad range of services.
"There is a clear opportunity to achieve accelerated growth in a growing market. Internal research values the outsourced property services market in Australia and New Zealand at A$18 billion, which is expected to grow by approximately 5 per cent annually. Both government agencies and corporates are increasingly looking to outsource property management functions to get innovative and professional services which can increase efficiency and deliver bottom-line value. As a result, we see a real opportunity to draw on the expertise of our two global parent companies to provide a market-leading alternative."
Extension of successful global partnership
Brookfield Johnson Controls is the second partnership between Brookfield and Johnson Controls globally. The first, which was formed in Canada in 1992, is an established industry leader providing services to more than 12.5 million square metres (134 million square feet) in 11,500 locations across Canada.
Concurrent with the formation of Brookfield Johnson Controls in Australia, interests in the Canadian company will also be realigned. The Canadian entity will be renamed Brookfield Johnson Controls.
The companies' Canadian partnership has built a strong reputation in the financial services sector, counting many of Canada's largest banks and financial institutions as clients. This expertise will be used by Brookfield Johnson Controls to serve Australian and New Zealand financial services clients, among others.
"We expect the combined regional strength of Brookfield Multiplex Services, the Johnson Controls GWS international platform and the global expertise of our parent companies will be particularly compelling for banks, insurance companies and other financial institutions in the region," said Mr McCormick.
"Our target sectors also include the life sciences, technology, industrial and oil and gas markets while our global reach will appeal to larger companies with operations in Australia and New Zealand looking to grow into international markets."
Iain Campbell, vice president and general manager, Johnson Controls Global Energy and WorkPlace Solutions, said: "This merger represents an extension of the global Brookfield and Johnson Controls partnership. Based on a relationship now spanning three decades, and drawing together the highly-complementary skill sets of our respective businesses, we are confident our new Australian and New Zealand business will have an immediate impact in this important market."
Brian Kingston, CEO of Brookfield Australia, said: "Brookfield and Johnson Controls have enjoyed great success in Canada using a similar model to the one that will be employed in Australia. The formation of this partnership was the next logical step in accelerating our growth in Australia and New Zealand, a market on which we place great importance and view with ongoing confidence."
The merger agreement between Brookfield Multiplex Services and Johnson Controls GWS in Australia and New Zealand is subject to customary conditions precedent and is expected to close before the end of the calendar year. Brookfield Johnson Controls intends to begin operations from early 2013.
About Johnson Controls Global WorkPlace Solutions
Johnson Controls Global WorkPlace Solutions is a leading provider of facilities, corporate real estate and energy management for many of the world's largest companies. We create business advantage for our customers through tailored solutions that optimize their real estate performance and employee productivity while reducing total occupancy costs. Our 21,000 employees have delivered over $3 billion in savings for our customers over the last 10 years and ensure the business continuity of the 1.8 billion square feet of real estate that we manage in more than 75 countries.
About Johnson Controls
Johnson Controls is a global diversified technology and industrial leader serving customers in over 150 countries. Our 162,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2012, Corporate Responsibility Magazine recognized Johnson Controls as the #5 company in its annual "100 Best Corporate Citizens" list.
For additional information, please visit http://www.johnsoncontrols.com.
About Brookfield Multiplex Services
Brookfield Multiplex Services provides real estate, facilities and project management services to a range of large corporate and government occupiers in Australia and New Zealand. With more than 3 million square meters and 8,900 properties under management, Brookfield Multiplex Services has significant regional infrastructure and service capabilities that will add to our client service offering.
Brookfield Asset Management Inc. is a global alternative asset manager with over $150 billion in assets under management. The company has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. It has a range of public and private investment products and services. Brookfield is co-listed on the New York and Toronto Stock Exchanges under the symbols BAM and BAMA, respectively, and on NYSE Euronext under the symbol BAMA.
For additional information, please visit www.brookfield.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This press release contains "forward-looking information" within the meaning of Canadian provincial securities laws and "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of Brookfield, Johnson Controls and their subsidiaries, as well as the outlook for North American, Australian, New Zealand and other economies for the current fiscal year and subsequent periods, and include words such as "expects", "increase," "grow," or negative versions thereof and other similar expressions, or future or conditional verbs such as "may," "will," "should," "would" and "could".
Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield and Johnson Controls to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.
Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; the behavior of financial markets, including fluctuations in interest and foreign exchanges rate; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation within the countries in which we operate; changes in tax laws, catastrophic events, such as earthquakes and hurricanes; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States.
We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, Brookfield and Johnson Controls undertake no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
May. 29, 2016 05:15 AM EDT Reads: 3,264
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
May. 29, 2016 05:00 AM EDT Reads: 1,963
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
May. 29, 2016 04:30 AM EDT Reads: 3,233
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
May. 29, 2016 03:30 AM EDT Reads: 967
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
May. 29, 2016 02:45 AM EDT Reads: 1,485
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
May. 29, 2016 02:30 AM EDT Reads: 1,337
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
May. 29, 2016 02:00 AM EDT Reads: 1,323
In the rush to compete in the digital age, a successful digital transformation is essential, but many organizations are setting themselves up for failure. There’s a common misconception that the process is just about technology, but it’s not. It’s about your business. It shouldn’t be treated as an isolated IT project; it should be driven by business needs with the committed involvement of a range of stakeholders.
May. 29, 2016 01:45 AM EDT Reads: 2,631
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
May. 29, 2016 01:30 AM EDT Reads: 2,474
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
May. 29, 2016 01:15 AM EDT Reads: 1,352
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
May. 29, 2016 01:00 AM EDT Reads: 1,405
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
May. 29, 2016 12:45 AM EDT Reads: 2,052
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
May. 28, 2016 11:00 PM EDT Reads: 2,376
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
May. 28, 2016 10:00 PM EDT Reads: 2,578
SYS-CON Events announced today BZ Media LLC has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and Commercial Drone markets.
May. 28, 2016 07:00 PM EDT Reads: 3,644