USA: Trane Technologies has signed an settlement to accumulate Nuvolo, a US firm offering cloud-based linked office and enterprise asset administration merchandise and options.

Built on the ServiceNow Platform, Nuvolo Connected Workplace is claimed to assist prospects modernise amenities administration, optimise areas, and handle the total lifecycle of enterprise belongings.

The firm is headquartered in Wellesley, Massachusetts, with a world workforce situated all through North America, Europe and Asia.

Trane says the acquisition will convey collectively the businesses’ complementary capabilities, expertise, choices, and buyer bases throughout shared key verticals, together with healthcare, life sciences, retail, public sector, training and extra.

Describing Nuvolo as “an outstanding fit”, Trane Technologies’ government vice chairman and chief expertise and sustainability officer Paul Camuti stated: “With this acquisition, we see an opportunity to accelerate Nuvolo’s global growth and unlock new value and offerings for our respective customers and partners.”

Nuvolo founder and CEO Tom Stanford will be a part of Trane Technologies in a management position and can proceed to steer the Nuvolo enterprise and workforce of roughly 250 international associates.

The transaction is topic to regulatory approval, with closing anticipated within the fourth quarter of 2023.