ASSA ABLOY acquires Control iD in Brazil
ASSA ABLOY has signed an agreement to acquire Control iD, a Brazilian developer of access control and time & attendance solutions. This strategic move enhances ASSA ABLOY's biometric offerings, particularly in facial recognition technology, reinforcing its market position in emerging markets. Control iD generated sales of approximately MBRL 130 (approx. MSEK 250) in 2021 with a strong EBIT margin. The acquisition is expected to be accretive to earnings per share from the outset and is set to close in Q4 2022, pending regulatory approval.
- Acquisition of Control iD enhances ASSA ABLOY's biometrics and access control portfolio.
- Control iD's 2021 sales were approximately MBRL 130 (approx. MSEK 250) with a good EBIT margin.
- The acquisition is expected to be accretive to EPS from the start.
- None.
STOCKHOLM, Sept. 5, 2022 /PRNewswire/ -- ASSA ABLOY has signed an agreement to acquire Control iD, a leading developer of hardware and software solutions for access control and time & attendance in Brazil.
"I look forward to welcoming Control iD and their employees into the ASSA ABLOY Group. Control iD is a strategic technological addition; reinforcing our current access control and biometrics offerings, providing complementary growth opportunities, and enabling us to grow our market leadership in emerging markets," says Nico Delvaux, President and CEO of ASSA ABLOY.
"Control iD's focus on innovative biometric technologies, especially facial recognition, fills several gaps in our existing portfolio and I'm excited for them to become part of ASSA ABLOY," says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. "This acquisition provides a great opportunity for us to further develop our commercial and residential access control solutions and services to many different markets and applications in Brazil."
Control iD was established in 2006 and has some 300 employees. The company is headquartered in São Paulo, Brazil.
Sales for 2021 amounted to about MBRL 130 (approx. MSEK 250) with a good EBIT margin. The acquisition will be accretive to EPS from the start.
The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the fourth quarter of 2022.
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
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 51,000 employees and sales of SEK 95 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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