STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
ASSA ABLOY (STO:ASSAB) has acquired Bluvision, a leading US Bluetooth Low Energy (“BLE”) provider in the enterprise Internet of Things (IoT) market.
"Bluvision is an exciting technological addition to the ASSA ABLOY Group. The company reinforces our current offering within identification technologies. The acquisition of Bluvision considerably enhances the Group’s position within the enterprise IoT market and will provide complementary growth opportunities,” says Johan Molin, President and CEO of ASSA ABLOY.
"Bluvision will expand HID’s offerings with BLE products and help us further differentiate from the competition,” says Stefan Widing, Executive Vice President ASSA ABLOY and Head of business unit HID Global. “We are extending our lead in BLE-based IoT solutions that we created when we launched our Mobile Access solution two years ago. With our combined solutions and technologies, our customers' ability to manage assets and people within buildings will increase significantly.”
Bluvision was founded in 2014 and has some 21 employees. The company is headquartered in Fort Lauderdale, Florida.
Sales in the next year are expected to reach USD 18 million (approx. SEK 160 million) with a good EBIT margin. The acquisition will be neutral to EPS from start.
About ASSA ABLOY
ASSA ABLOY is the global leader in door opening solutions, dedicated to satisfying end-user needs for security, safety and convenience. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international group with about 46,000 employees, operations in more than 70 countries and sales of SEK 68 billion. In the fast-growing electromechanical security segment, the Group has a leading position in areas such as access control, identification technology, entrance automation and hotel security.
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