ASSA ABLOY acquires Access-IS in the UK
On August 17, 2020, ASSA ABLOY announced its acquisition of Access-IS, a specialist in electronic RFID, NFC, and barcode devices for document authentication and payments. This strategic move aims to complement ASSA ABLOY's extended access technologies and is expected to enhance growth opportunities within its Identification Technologies division. Access-IS, founded in 1985, recorded sales of approximately MGBP 19 (MSEK 220) in 2019. The acquisition is projected to be neutral to earnings per share from the start.
- Strategic acquisition of Access-IS strengthens ASSA ABLOY's existing access technology offerings.
- Access-IS solutions align well with HID's transport and ticketing solutions, enhancing industry leadership.
- The acquisition opens up complementary growth opportunities in attractive markets.
- None.
STOCKHOLM, Aug. 17, 2020 /PRNewswire/ -- ASSA ABLOY has acquired Access-IS, a leading provider of electronic RFID, NFC and barcode devices enabling the authentication of travel and identity documents, ticket reading and contactless payments.
"I am very pleased to welcome Access-IS and their employees into the ASSA ABLOY Group. Access-IS is a strategic technological addition to the ASSA ABLOY Group. The company will reinforce our current offering within extended access technologies and will provide complementary growth opportunities," says Nico Delvaux, President and CEO of ASSA ABLOY.
"Access-IS solutions are a good fit for HID. Strategically aligned with both our existing Extended Access Technologies business and HID's transport and ticketing solutions in our Identification Technologies business, Access-IS will enhance HID's industry leadership while positioning us for growth in a variety of attractive markets," says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global.
Access-IS was founded in 1985 and has some 120 employees. The main office is located in Reading, UK.
Sales in 2019 amounted to about MGBP 19 (approx. MSEK 220) and the acquisition will be neutral to EPS from start.
For more information, please contact:
Nico Delvaux, President and CEO, tel. no: +46-8-506-485-82
Erik Pieder, CFO and Executive Vice President, tel. no: +46-8-506-485-72
Björn Tibell, Head of Investor Relations, tel. no: +46-70-275-67-68
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 49,000 employees and sales of SEK 94 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.
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SOURCE ASSA ABLOY
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