Janam Technologies acquired by ASSA ABLOY

STOCKHOLM – The U.S.-based Janam, a provider of handheld mobile computer and readers, has been acquired by ASSA ABLOY. Terms were not disclosed. 

The announcement made on Dec. 27 will enhance the company's Home Improvement Division’s (HID) event access portfolio, ASSA ABLOY said, and will now include handheld readers for ticket scanning using barcode and RFID technology, including NFC.

"We welcome Janam to the HID family and look forward to leveraging their mobile reader technology to improve the event experience for millions of spectators around the world," says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global.

Founded in 2006, Janam is based in New York with around 20 employees and will become part of the HID’s Identification Technologies Business Area according to a release issued by ASSA ABLOY.

"I am very pleased to welcome Janam into the ASSA ABLOY Group. Janam is a strategic technological addition to the ASSA ABLOY Group and reinforces our current RFID offering and provides complementary growth opportunities," said Nico Delvaux, President and CEO of ASSA ABLOY. According to the official release sales in 2021 amounted to about MUSD 21 (approx. MSEK 200) with a good EBIT margin and the acquisition will be accretive to EPS from start.

ASSA ABLOY is currently embroiled in a legal dispute with the U.S. Department of Justice over its proposed acquisition of Spectrum’s Hardware and Home Improvement Division. Earlier in December the company completed the sale of its U.S. based Emtek and Smart Residential businesses for $800 million to address competitive concerns levied in the lawsuit.

For more information, please visit www.assaabloy.com.