Johnson Controls to buy Air Distribution Technologies for $1.6B

|About: Johnson Controls Internat... (JCI)|By:, SA News Editor

Johnson Controls (JCI) has agreed to acquire Air Distribution Technologies from Canada Pension Plan Investment Board for $1.6B.

Johnson Controls says the deal complements its existing heating, ventilation and air conditioning offerings. It also reflects the company's "commitment to invest in the buildings business as a growth platform."

Shares are +1.1% premarket. (PR)