STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
ASSA ABLOY (STO:ASSAB)
ASSA ABLOY has entered into a definitive agreement with DOCDATA N.V. to acquire IAI industrial systems B.V. and its subsidiaries (“IAI”), a leading Dutch company specializing in security printing solutions for government ID, bank notes and other security solutions.
"IAI is an important technological addition to the ASSA ABLOY Group. The company complements our current offering within secure identity solutions. The acquisition of IAI considerably enhances the Group´s position within government ID and will provide complementary growth opportunities,” says Johan Molin, President and CEO of ASSA ABLOY.
"The addition of the IAI portfolio to HID’s expertise in the field of secure identity documents sets HID apart in the industry as the only company offering a full range of both identity card and passport personalization solutions coupled with the production of high-quality, high-security documents.”, says Stefan Widing, Executive Vice President ASSA ABLOY and Head of business unit HID Global.
IAI was established in 1990 and has some 85 employees. The company is headquartered in Veldhoven, Netherlands, where it will maintain its operations.
Sales for 2016 are expected to reach EUR 20 million (approx. SEK 185 million). The acquisition will be slightly accretive to EPS from start.
The transaction is subject to customary conditions for a transaction of this kind and is expected to close during Q4 2015.
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 44,000 employees, operations in more than 70 countries and sales close to SEK 57 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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