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DUBLIN--(BUSINESS WIRE)--Allegion plc (NYSE: ALLE) has completed its acquisition of plano. group, a software-as-a-service provider focused on workforce management solutions. This acquisition strengthens Allegion's existing portfolio, particularly enhancing its European brand, Interflex, and its SP-EXPERT software platform. Originally announced in November 2022, the deal aims to expand Allegion's reach in the advanced workforce management sector. plano will continue to cater to its advanced workforce management customers under the Interflex brand.
Positive
Acquisition of plano enhances Allegion's portfolio in workforce management.
Strengthens Allegion’s existing European brand, Interflex.
Continuity of plano's services for advanced workforce management customers.
Negative
None.
DUBLIN--(BUSINESS WIRE)--
Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, has, through one of its subsidiaries, completed its previously announced acquisition of plano. group (“plano”) assets, a software-as-a-service (SaaS) workforce management solution provider.
Based in Germany, plano has been a long-time service provider and development partner for Allegion’s leading European workforce management brand, Interflex, and its SP-EXPERT software platform. Now a part of Interflex’s portfolio, plano will continue to serve advanced workforce management customers.
Allegion announced its intent to purchase plano in November 2022. For more information, see the original press release.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, including statements regarding the continued impacts of the global COVID-19 pandemic, supply chain constraints, electronic component and labor shortages, inflation, rising freight and material costs, impacts of Russia’s invasion of Ukraine including further supply chain disruptions and the increased risk of cyber-attacks in connection with such invasion, the company's 2022 financial performance, the company’s business plans and strategy, the company’s growth strategy, the company’s capital allocation strategy, the company’s tax planning strategies, and the performance of the markets in which the company operates. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements. Forward-looking statements may relate to such matters as projections of revenue, margins, expenses, tax provisions, earnings, cash flows, benefit obligations, dividends, share purchases or other financial items; any statements of the plans, strategies and objectives of management for future operations, including those relating to any statements concerning expected development, performance or market share relating to our products and services; any statements regarding future economic conditions or our performance; any statements regarding pending investigations, claims or disputes; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. These statements are based on the company's currently available information and our current assumptions, expectations and projections about future events. They are subject to future events, risks and uncertainties - many of which are beyond the company’s control - as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Further information on these factors and other risks that may affect the company's business is included in filings it makes with the Securities and Exchange Commission from time to time, including its Form 10-K for the year ended Dec. 31, 2021, Form 10-Q for the quarters ended March 31, 2022, June 30, 2022, and Sept. 30, 2022, and in its other SEC filings. The company undertakes no obligation to update these forward-looking statements.
About Allegion
Allegion (NYSE: ALLE) is a global pioneer in seamless access, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools and institutions. Allegion had $2.9 billion in revenue in 2021, and its security products are sold around the world.
