Information Technology
ASSA ABLOY acquires 3millID and Third Millennium in the US and UK
"Welcoming 3millID and Third Millennium into the HID family demonstrates our continued investment in core physical access control technologies. These acquisitions bring new opportunities to increase customer choice and relevance within our portfolio and will enhance our presence outside of the United States ," says Björn Lidefelt, EVP and Head of HID.
Founded in 2015 and headquartered in, Highlands Ranch, Colorado , 3millID is a solutions provider of proprietary access control readers and technology-enabled products to enterprise end customers in North America . Third Millennium, founded in 1996 and based in Wales , UK, is a provider of access control solutions and software to enterprise and government end customers in the UK and Europe , with robust in-house technology expertise.
Since 2015, the two companies have had a commercial partnership, encompassing technology development and sales. The two companies have a total of some 40 employees and will be part of HID´s Physical Access Control Solutions Business Area.
Sales for 2023 amounted to about MUSD 21 (approx. MSEK 220) with a strong EBIT margin. The acquisition will be accretive to EPS from the start.
The acquisition is subject to customary closing conditions and is expected to close during the first quarter of 2025.
Nico Delvaux , President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/assa-abloy/r/assa-abloy-acquires-3millid-and-third-millennium-in-the-us-and-uk,c4088665
The following files are available for download:
View original content:https://www.prnewswire.co.uk/news-releases/assa-abloy-acquires-3millid-and-third-millennium-in-the-us-and-uk-302345525.html