ASSA ABLOY acquires Omni-ID in the US
ASSA ABLOY has announced the acquisition of Omni-ID, a US-based leader in RFID tags and industrial IoT hardware, for an undisclosed amount. This strategic move is expected to boost ASSA ABLOY's RFID and IoT offerings, particularly in emerging markets like India and China. Omni-ID, established in 2007 with around 170 employees, recorded sales of approximately USD 13 million in 2020. However, the acquisition is expected to be dilutive to EPS from the start. The integration aims to enhance customer service and expand manufacturing capabilities.
- Acquisition of Omni-ID broadens ASSA ABLOY's RFID and IoT technology portfolio.
- Expected to enhance service capabilities in emerging markets like India and China.
- Potential for complementary growth opportunities in RFID and IoT.
- Acquisition expected to dilute EPS from the start.
- Previous annual sales of Omni-ID estimated around USD 13 million indicate modest growth.
STOCKHOLM, Aug. 18, 2021 /PRNewswire/ -- ASSA ABLOY has acquired Omni-ID, a leading manufacturer of RFID tags and industrial IoT hardware devices for passive and active tagging, tracking, monitoring and alerting applications, based in the US.
"I am very pleased to welcome Omni-ID into the ASSA ABLOY Group. Omni-ID is a strategic technological addition to the ASSA ABLOY Group and reinforces our current RFID and IoT offering and provides complementary growth opportunities," says Nico Delvaux, President and CEO of ASSA ABLOY.
"In addition to broadening our value-added RFID components and active identification devices offering, the acquisition enhances our ability to serve customers in India and China by expanding our sales and manufacturing footprint, an important step in extending our industrial IoT technology into emerging markets," says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global.
Omni-ID was founded in 2007 and has some 170 employees. Based in Rochester, New York, it will be part of HID's Identification Technologies Business Area.
Sales in 2020 amounted to about MUSD 13 (approx. MSEK 110) and the acquisition will be dilutive to EPS from the 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 48,000 employees and sales of SEK 88 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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Press release (PDF) | |
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SOURCE ASSA ABLOY
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