DUBLIN--(BUSINESS WIRE)--Allegion plc (NYSE:ALLE), a leading global security products and solutions provider, has made, through one of its subsidiaries, a minority investment in European smart-home innovator Nuki GmbH.
Founded in Austria in 2014, Nuki’s cornerstone product is a retrofit residential smart lock. The Nuki Smart Lock, which is easily installed on top of an existing key and lock, offers Bluetooth-enabled smartphone and Nuki Fob credentialing and fits the majority of existing European locks. When used with the Nuki Bridge, it provides permanent internet connectivity and homeowner control from remote locations. With the Nuki Box, which is the latest addition to the company’s product portfolio, entrance doors of multi-family housing become smart access systems.
Allegion Senior Vice President and President of EMEIA Lúcia Veiga Moretti said the strategic investment in Nuki expands Allegion’s footprint in the growing European IoT marketplace.
“Our alliance with Nuki is yet another example of Allegion’s commitment to leading the electro-mechanical convergence in the security industry,” Veiga Moretti said. “This business has innovative thought leaders at the helm who will make excellent collaboration partners. Nuki is truly a pioneer in the residential smart-lock space in Europe. And, with both of our open ecosystems, we can work together to develop best-in-class digital platforms.”
Through the alliance, Allegion and Nuki will work together to develop commercial initiatives that accelerate growth.
“Like Allegion’s portfolio of solutions, our leading residential lock is smart, simple and secure,” said Nuki CEO Martin Pansy. “We’re excited to collaborate with a partner like Allegion, who has a growing European presence as well as global market strength. We are convinced that we can shape the future of smart access together.”
The partnership is consistent with Allegion’s strategy to drive growth and create shareholder value by investing in new technologies.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements that relate to the acquisition’s impact on the company’s financial and operational performance, the acquisition’s ability to drive growth and the integration of the acquisition. These forward-looking statements are based on the company's current available information and its current assumptions, expectations and projections about future events. They are subject to future events, risks and uncertainties - many of which are beyond the company’s control - as well as potentially inaccurate assumptions, which could cause actual results to differ materially from those in the forward-looking statements. Further information on these factors and other risks that may affect the company's business is included in filings it makes with the Securities and Exchange Commission from time to time, including its Form 10-K for the year ended Dec. 31, 2017, and in its other SEC filings. The company assumes no obligations to update these forward-looking statements.
Allegion (NYSE: ALLE) is a global pioneer in safety and security, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion produces a range of solutions for homes, businesses, schools and other institutions. Allegion is a $2.4 billion company, with products sold in almost 130 countries. For more, visit www.allegion.com.