No financial details released (Il Sole 24 Ore Radiocor) - Stockholm, 22 Jul - Swedish lock specialist Assa Abloy said it has signed an agreement to acquire Skidata, a provider of access management solutions.

No financial details were released.

"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 CEO of Assa Abloy.

Skidata was founded in 1977 and is part of the Public Access division of Swiss listed Kudelski Group 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, it added.

Sales for 2023 amounted to about 305 million euros. The acquisition will initially have a small dilutive effect to earnings per share, Assa Abloy noted.

The acquisition is expected to close during the third quarter of 2024, it added.

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(RADIOCOR) 22-07-24 13:19:17 (0315) 5 NNNN