Featured Image: Skidata
Assa Abloy, a Swedish provider of access solutions, has agreed to acquire Skidata for an undisclosed fee.
Skidata is a provider of access management solutions and is being sold by current owners, Swiss-listed The Kudelski Group. Skidata was founded in 1977, has 1,280 employees and is headquartered in Salzburg, Austria.
Once the deal is completed, Skidata will form part of the Business Segment Pedestrian within the Entrance Systems Division of Assa Abloy. In a statement, Skidata explained that it will continue to operate as a separate business area, under its “established brand identity while accessing greater resources and expanding its market reach”.
Skidata’s sales for 2023 amounted to roughly €305m (£257m/$332m) and the acquisition will initially have a small dilutive effect to EPS (earnings per share).
It is hoped that the partnership will present new growth opportunities across Europe, the US and other global markets.
“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,” said Nico Delvaux, president and chief executive of Assa Abloy.
Massimo Grassi, executive vice president of Assa Abloy and head of entrance systems division, added: “Skidata’s attractive product portfolio and strong performance in access solutions will enhance and complement our current offering.
“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.”
The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the third quarter of 2024.
Share this