ASSA ABLOY to acquire SKIDATA
By SSN Staff
Updated 12:35 PM CDT, Mon July 22, 2024
STOCKHOLM — ASSA ABLOY has signed an agreement to acquire SKIDATA, an international provider of access management solutions.
"I am very pleased to welcome the SKIDATA team into the ASSA ABLOY Group. This acquisition delivers on our strategy to grow our business in mature markets through adding complementary products and solutions to our core business," says Nico Delvaux, president and CEO of ASSA ABLOY.
"SKIDATA's attractive product portfolio and strong performance in access solutions will enhance and complement our current offering," says Massimo Grassi, executive vice president of ASSA ABLOY and head of its Entrance Systems Division. "Its commitment to secure, reliable access solutions and excellent customer service aligns perfectly with our values, and I'm convinced that together, we will continue our successful journey."
SKIDATA was founded in 1977 and is part of the Public Access division of Swiss listed Kudelski Group (SWX: KUD) and has some 1,280 employees. SKIDATA is headquartered in Salzburg, Austria and will be part of the Business Segment Pedestrian within the Entrance Systems Division.
Sales for 2023 amounted to about MEUR 305 (approx. MSEK 3,500). The acquisition will initially have a small dilutive effect to EPS.
ASSA ABLOY recently hosted its Second Quarter 2024 financial results webcast which SSN covered here.
The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the third quarter of 2024.
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