DUBLIN--(BUSINESS WIRE)--Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, has agreed to acquire ISONAS through one of its subsidiaries. The transaction is expected to close early in the third quarter of 2018, subject to customary closing conditions.
ISONAS has edge-computing technology that provides innovative access control solutions for non-residential markets. ISONAS intelligent devices – like its popular integrated reader-controllers – utilize power over ethernet, making them easy to install and cost effective as they utilize existing customer infrastructures. The company is based in Boulder, Colo.
“By bringing ISONAS into the Allegion family, we’re adding a technology leader with solutions that align well with Allegion’s channel initiatives and add new access technologies to our portfolio,” said Tim Eckersley, Allegion senior vice president and president of the Americas region. “As Allegion continues to drive electronic adoption across our industry, we will also continue to offer more IP wall-based choices that add value for customers.”
Since its founding in 2000, ISONAS has accelerated growth, established strong customer relationships and built a network of certified integrators and committed distributors. Allegion’s global presence, electronics expertise and channel relationships are expected to further expand the reach of ISONAS technology and increase its capacity for growth.
Following the closing of the transaction, ISONAS is expected to operate within Allegion’s Americas region. ISONAS generated approximately $6 million in net sales in 2017. Terms of the transaction were not disclosed.
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 are 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 Form 10-Q for the quarter ended March 31, 2018, 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.