ASSA ABLOY acquires Janam Technologies in the US

Rhea-AI Summary

ASSA ABLOY has acquired Janam Technologies, a US-based provider of handheld mobile computers and readers, enhancing its event access portfolio with advanced scanning technology. The acquisition, announced on December 27, 2022, is expected to contribute to earnings per share (EPS) immediately. Janam reported sales of approximately MUSD 21 in 2021 and operates within HID's Identification Technologies Business Area. This strategic move aims to leverage Janam's technology to improve the event experience for users worldwide.

Positive

• Acquisition provides immediate EPS accretion.
• Enhances event access portfolio with mobile reading technology.
• Sales of Janam were approximately MUSD 21 in 2021, indicating strong revenue potential.

Negative

• None.

STOCKHOLM, Dec. 27, 2022 /PRNewswire/ -- ASSA ABLOY has acquired Janam, a leading provider of handheld mobile computers and readers, based in the US. This acquisition enhances HID's event access portfolio to now also include handheld readers for scanning tickets using barcode and RFID technology, including NFC.

"I am very pleased to welcome Janam into the ASSA ABLOY Group. Janam is a strategic technological addition to the ASSA ABLOY Group and reinforces our current RFID offering and provides complementary growth opportunities," says Nico Delvaux, President and CEO of ASSA ABLOY.

"We welcome Janam to the HID family and look forward to leveraging their mobile reader technology to improve the event experience for millions of spectators around the world," says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global.

Janam was founded in 2006 and has some 20 employees. Based in New York, it will be part of HID's Identification Technologies Business Area.

Sales in 2021 amounted to about MUSD 21 (approx. MSEK 200) with a good EBIT margin and the acquisition will be accretive 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, e-mail: bjorn.tibell@assaabloy.com

About ASSA ABLOY

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.

The following files are available for download:

https://mb.cision.com/Main/7333/3690107/1757463.pdf	Press release (PDF)
https://news.cision.com/assa-abloy/i/gt1-kiosk-scanning-1,c3129581	GT1 Kiosk Scanning 1
https://news.cision.com/assa-abloy/i/janam-2,c3129583	Janam 2
https://news.cision.com/assa-abloy/i/janam-3,c3129582	Janam 3

View original content:https://www.prnewswire.com/news-releases/assa-abloy-acquires-janam-technologies-in-the-us-301710170.html

SOURCE ASSA ABLOY

FAQ

What is the significance of ASSA ABLOY's acquisition of Janam?

The acquisition enhances ASSA ABLOY's event access technology offerings, providing immediate EPS benefits and revenue growth potential.

When was Janam acquired by ASSA ABLOY?

Janam was acquired on December 27, 2022.

How much revenue did Janam generate in 2021?

Janam generated approximately MUSD 21 in revenue in 2021.

What technology does Janam provide to ASSA ABLOY?

Janam specializes in handheld mobile computers and readers, including barcode and RFID scanning technology.

How will the acquisition impact ASSA ABLOY's event access portfolio?

The acquisition expands ASSA ABLOY's portfolio by integrating advanced scanning solutions to enhance event experiences.