Assa Abloy Enhances Access Control Offering via Skidata Acquisition

Published Date: 22/07/2024

Assa Abloy expands its presence in the physical access control market with the acquisition of Skidata, a leading provider of hardware and software solutions for large venues.

"Assa Abloy, a global leader in access solutions, has announced the acquisition of Skidata, an Austria-based provider of physical access control systems. The deal marks a significant expansion of Assa Abloy's portfolio and global presence in the physical access control market.

Skidata's portfolio includes a range of hardware and software solutions for large venues, such as stadiums, including biometrics and NFC scanning among 100 types of supported ticket media. The company will be integrated into the Pedestrian business segment within Assa Abloy's Entrance Systems Division.

The acquisition is in line with Assa Abloy's strategy of adding complementary products and solutions to its core business to grow its presence in mature markets. Assa Abloy President and CEO Nico Delvaux noted that the deal fits with the company's approach of expanding its offerings through strategic acquisitions.

A recent report from Genetec highlighted the growing trend towards biometrics and other new technologies in physical access control deployments. The integration of Skidata's physical access systems with facial recognition technology from STC at Russia's VTB Arena in 2020 demonstrates the potential of these solutions.

Skidata reported revenues of 305 million euros (approximately US$332 million) in fiscal 2023. While the terms of the agreement were not disclosed, Assa Abloy expects the deal to have a small dilutive effect on its earnings per share.

The acquisition is expected to close in the third quarter of 2024, subject to the usual conditions. Assa Abloy's inorganic growth continues to drive its expansion, with the company reporting 11% inorganic growth in the second quarter of its fiscal 2024 year.

  Information 

Assa Abloy is a global leader in access solutions, with a presence in over 70 countries. The company's Entrance Systems Division provides a range of solutions for pedestrian and vehicular access.

Skidata is a leading provider of physical access control systems, with a focus on large venues such as stadiums. The company's portfolio includes hardware and software solutions, including biometrics and NFC scanning."

FAQs:

"Q: What is Assa Abloy's strategy for expanding its presence in the physical access control market?

A: Assa Abloy's strategy involves adding complementary products and solutions to its core business through strategic acquisitions.

Q: What is Skidata's focus in the physical access control market?

A: Skidata's focus is on providing hardware and software solutions for large venues such as stadiums.

Q: What is the trend in physical access control deployments according to a recent report from Genetec?

A: The trend is towards the adoption of biometrics and other new technologies.

Q: What is the expected impact of the acquisition on Assa Abloy's earnings per share?

A: The deal is expected to have a small dilutive effect on Assa Abloy's earnings per share.

Q: When is the acquisition expected to close?

A: The acquisition is expected to close in the third quarter of 2024, subject to the usual conditions."

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