Carrier Announces Agreement to Acquire Nlyte Software to Strengthen and Expand Data Center Offerings

PALM BEACH GARDENS, Fla., September 22, 2021 /PRNewswire/ — Carrier Global Corporation (NYSE: CARR) today announced it has signed an acquisition agreement Nlyte software (“Nlyte”), a leader in data center infrastructure management (DCIM) software. Nlyte’s proven data center expertise will expand Carrier’s HVAC business’ access to the growing DCIM segment, complement its differentiated Automated Logic Controls business to create integrated customer solutions, and help fulfill its strategic focus on sustainable and intelligent solutions through increased recurring revenue . Carrier is the leading global provider of healthy, safe, sustainable and intelligent solutions for buildings and cold chains.

“Nlyte’s software and services, along with the expertise of its team, will enable Carrier to further develop our data center capabilities and provide enhanced services and solutions to Carrier’s broad, global customer base,” the organization said. Chris Nelson, president, HVAC, carrier. “This is an excellent strategic match and allows us to provide customers with a premium offering of data center controls and infrastructure energy management.”

“This transaction strengthens and expands our data center offering,” said Doug Sabella, CEO, Nlyte. “As a leader in the DCIM market, we can provide new solutions and value-added customer service for HVAC equipment, building automation, controls, security and fire systems. With Carrier’s global presence, Nlyte can reach new segments and geographies.”

Nlyte helps customers manage their IT infrastructure and drive the digital transformation of data centers. The DCIM software provides centralized management of all data center resources, helping organizations plan, view and optimize their data centers for maximum energy efficiency and transparency. These results have helped Nlyte enjoy 98% customer retention.

Nlyte becomes part of Automated Logic Corporation (ALC), Carrier’s Building Automation and Controls division, within Carrier’s HVAC segment. The combination of ALC WebCtrl building automation and Nlyte DCIM systems provides data center customers with a complete intelligent solution to further improve operational efficiency.

Carrier expects to close the acquisition of Nlyte in the fourth quarter of 2021 on customary terms. The terms of the transaction have not been disclosed.

About Carrier
As a leading global provider of healthy, safe, sustainable and intelligent solutions for buildings and cold chains, Carrier Global Corporation is committed to making the world a safer, more sustainable and more comfortable place for generations to come. From the beginning, we have been at the forefront of inventing new technologies and completely new industries. Today, we continue to lead the way because we have a diverse, world-class workforce that puts the customer at the heart of everything we do. For more information visit www.Corporate.Carrier.com or follow us on social media @Carrier.

CARR-IR

Warning:
This announcement contains statements that, to the extent that they are not historical or current facts, constitute “forward-looking statements” under securities laws. From time to time, oral or written forward-looking statements may also be incorporated into other information released to the public. These forward-looking statements are intended to reflect management’s current expectations or plans for Carrier’s future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as “believe”, “expect”, “expectations”, “plans”, “strategy”, “prospects”, “estimate”, “project”, “targets”, “anticipate” , “will”, “would”, “see”, “guidance”, “prospect”, “confidence”, “scenario” and other words of similar meaning in connection with a discussion of future operating or financial performance or the separation of United Technologies Corporation (the “Divorce”), since renamed Raytheon Technologies Corporation. Forward-looking statements may include, among other things, statements regarding future sales, revenues, cash flows, results of operations, use of cash, share repurchases, tax rates and other measures of financial performance or possible future plans, strategies or transactions of Carrier, the estimated costs associated with with the Divorce, Carrier’s plans regarding its indebtedness and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements. For such statements, Carrier claims the protection of the safe harbor for forward-looking statements in the US Private Securities Litigation Reform Act of 1995. Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which Carrier and its businesses operate in the U.S. and globally and all changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of demand in the construction end-market, the impact of weather conditions, pandemic health issues ( including COVID-19 and its effects, including on manufacturing and on global supply, demand and distribution as the outbreak continues and results in extended travel, commercial and other restrictions and restrictions), natural disasters and the financial condition of the customers and suppliers of Car rier; (2) challenges in the development, production, delivery, support, performance and realization of the expected benefits of advanced technologies and new products and services; (3) future levels of debt, capital expenditure and research and development expenditure; (4) future availability of credit and factors that may affect such availability, including credit market conditions and the carrier’s capital structure and credit ratings; (5) the timing and extent of future repurchases of Carrier common stock, including market conditions and the level of other investing activities and use of cash; (6) delays and disruptions in the supply of materials and services from suppliers; (7) efforts to reduce costs and restructuring costs and savings and other consequences thereof; (8) new business and investment opportunities; (9) risks arising from a smaller, less diversified company than before the Divorce; (10) the outcome of legal proceedings, investigations and other contingencies; (11) the impact of pension plan assumptions on future cash contributions and earnings; (12) the impact of collective bargaining and labor dispute negotiations; (13) the effect of changes in political conditions in the US (including in connection with the new administration in Washington, DC) and other countries in which Carrier and its companies operate, including the effect of changes in US trade policy or the withdrawal from the European Union, on general market conditions, global trade policy and exchange rates in the near term and beyond; (14) the effect of changes (which may include due to the new administration in Washington, DC) in tax, environmental, regulatory (including, but not limited to, import/export) and other laws and regulations in the US and other countries in which Carrier and its companies operate; (15) Carrier’s ability to retain and hire key personnel; (16) the scope, nature, impact or timing of acquisition and divestment activities, including, but not limited to, integrating acquired companies into existing businesses and realizing synergies and opportunities for growth and innovation and incurring related costs; (17) the expected benefits of the Divorce; (18) a determination by the United States tax authorities and other tax authorities that the distribution or certain related transactions should be treated as taxable transactions; (19) risks associated with indebtedness, including those incurred as a result of financing transactions performed in connection with the Separation, as well as Carrier’s ability to reduce indebtedness and the timing thereof; (20) the risk that costs of dissynergy, costs of restructuring transactions and other costs associated with the Separation may exceed Carrier’s estimates; and (21) the impact of the Separation on Carrier’s business and Carrier’s resources, systems, procedures and controls, diverting management attention and the impact on relationships with customers, suppliers, employees and other business counterparties . The above list of factors is not exhaustive or necessarily in order of importance. For additional information on identifying factors that could cause actual results to differ materially from those expressed in forward-looking statements, see the carrier’s reports on Forms 10-K, 10-Q and 8-K filed with or provided to the United States Securities and Exchange Commission from time to time. Any forward-looking statement speaks only as of the date it is made, and Carrier assumes no obligation to update or revise any such statement, whether as a result of new information, future events or otherwise, except as required by applicable law. .

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SOURCE Carrier Global Corporation

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