Transportation
Fortive to Spin Off Test Unit in $25 Billion Company Breakup
- Remaining company includes software, health-care operations
- CEO Jim Lico expected to retire at the end of next year
This article is for subscribers only.
Fortive Corp., the $25 billion conglomerate, plans to spin off its industrial test and measurement business to concentrate on software and health care.
The company announced on Wednesday that it’s separating the gauging unit into a publicly traded company. The remaining business will comprise Fortive’s industrial software and health-care operations.