STOCKHOLM, July 4, 2017 /PRNewswire/ -- ASSA ABLOY has acquired Arjo Systems SAS, a leading provider of physical and digital identity solutions for secure government ID applications.
"Arjo is an exciting technological addition to the ASSA ABLOY Group. The company reinforces our current offering within secure identity solutions. The acquisition of Arjo considerably enhances the Group´s position within government ID and will provide complementary growth opportunities," says Johan Molin, President and CEO of ASSA ABLOY.
"Our acquisition of Arjo significantly advances our Government ID business, broadening our geographical reach and giving us critical mass," says Stefan Widing, Executive Vice President ASSA ABLOY and Head of business unit HID Global. "Arjo is a strong fit for HID Global, complementing our existing government ID offerings with an expanded range of capabilities for government agencies, state printers and local integrators."
Arjo was founded in 2011 and has some 100 employees with operations in France, Italy and Hong Kong.
Sales for 2017 are expected to reach EUR 56 million (approx. SEK 550 million) with a good EBIT margin. The acquisition will be accretive to EPS from start.
For more information, please contact:
President and CEO
Tel. no: +46-8-506-485-42
Carolina Dybeck Happe
CFO and Executive Vice President
Tel. no: +46-8-506-485-72
About ASSA ABLOY
ASSA ABLOY is the global leader in door opening solutions, dedicated to satisfying end user needs for security, safety and convenience. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international group with about 47,000 employees, operations in more than 70 countries and sales of SEK 71 billion. In the fast-growing electromechanical security segment, the Group has a leading position in areas such as access control, identification technology, entrance automation and hotel security.
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SOURCE ASSA ABLOY