Nico Delvaux

ASSA ABLOY has acquired Technology Solutions (TSL) in the UK, a global provider of radio frequency identification (RFID) handheld readers. TSL designs, develops and manufactures ruggedized mobile RFID readers and other multi-technology, mobile device peripherals used to identify and track products and assets. "I am very pleased to welcome TSL into the ASSA ABLOY Group. TSL is a strategic technological addition to the ASSA ABLOY Group and reinforces our current RFID offering and provides complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY. Broad RFID portfolio “The acquisition of TSL expands HID’s broad RFID portfolio with proven hardware and integration tools that extend our leadership in identification technologies,” says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global. TSL was founded in 1994 and has some 25 employees. The main office is located in Loughborough, UK. Sales in 2020 amounted to about MGBP 3 (approx. MSEK 30) with a good EBIT margin and the acquisition will be accretive to EPS from start.

ASSA ABLOY has sold its Italian residential door business within Gardesa to Italy-based Bertolotto and is in the final stages to sell its remaining shutter business. Gardesa is an Italian manufacturer of residential security doors and roller shutters, headquartered in Cortemaggiore, Italy with around 70 employees. The company’s total sales in 2020 was approximately 10 MEUR (approx. 100 MSEK). "Bertolotto will provide Gardesa and its employees and customers with extensive experience and commitment. This will create new opportunities for the future and I wish them every success,” says Nico Delvaux, President and CEO of ASSA ABLOY. Business transformation "Gardesa has been one of our well-known brands in Italy, and I have personally spent some time with the team over the years and thank them for their contribution. I am confident that Bertolotto will take Gardesa to the next level as part of their business transformation and wish them every success in their future endeavors,” says Neil Vann, Executive Vice President of ASSA ABLOY and Head of EMEA Division. The transaction will have a positive effect on ASSA ABLOY's operating margin. The divestiture resulted in a capital loss and exit costs amounting to 18 MEUR (approx. 185 MSEK) booked during Q4 2020. The divestiture of the shutter business is expected to be completed during the first quarter of 2021.

ASSA ABLOY has announced acquiring Olimpia Hardware, renowned glass hardware and accessories brand in Latin America and the Caribbean. "I am very pleased to welcome Olimpia into the ASSA ABLOY Group. This constitutes an important next step in our strategy to grow market leadership in emerging markets,” said Nico Delvaux, President and Chief Executive Officer (CEO) of ASSA ABLOY. Acquisition of Olimpia Hardware "The addition of Olimpia complements our business in Latin America, further supporting the growing trend of openings utilizing glass and aluminum products," said Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. Olimpia Hardware was established in 1999 and serves Latin America and the Caribbean regions. ASSA ABLOY will continue to sell Olimpia branded products across the region. Sales for 2019 amounted to about 13 MUSD (approx. 125 MSEK) with a good EBIT margin. The acquisition will be accretive to EPS from start.

ASSA ABLOY has signed an agreement to sell its sensor technology business firm, CEDES in Switzerland to capiton AG. Sensor technology solutions major CEDES is a globally renowned sensor technology company in the elevators and door solutions business. The company was established in 1986 and has approximately 320 employees. The company is headquartered in Landquart, Switzerland. "I find it very satisfying that with capiton AG, CEDES and its employees and customers gain a committed long-term investor, creating new opportunities for the future and I wish them every success,” said Nico Delvaux, President and CEO of ASSA ABLOY. Expanding elevator sensors business "CEDES now has the investment and expertise to grow and expand its core business of elevator sensors, allowing us to focus our resources on our core business of automated doors,” said Christopher Norbye, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division. He adds, “CEDES is a well-performing business with high quality products, and we will continue to partner with the company as a preferred external supplier.” The transaction will have a neutral effect on ASSA ABLOY's operating margin. The divestiture is subject to customary closing conditions and is expected to close during the fourth quarter of 2020.

The purchase price for the Acquisition amounts to approximately EUR 506 million, equivalent to an adjusted purchase price per agta record share of EUR 70.54. The Acquisition is expected to close during August 2020. After the Acquisition ASSA ABLOY will own approximately 93% of the share capital and voting rights of agta record. As previously announced, ASSA ABLOY has entered into agreements with Italy-based FAAC Group for the sale of certain agta record and ASSA ABLOY businesses, as part of the commitments to address the competition concerns of the EU Commission in connection with the Acquisition (the “Divestiture”). Strategic addition "I look forward to finally welcoming agta record and all of its employees into the ASSA ABLOY Group. I am convinced ASSA ABLOY will be a good home for agta record, which is a strategic addition to the Group and will bring important competence, products and services. I am also glad that the divested businesses, with its employees and customers, will be in good hands and I wish them future success,” says Nico Delvaux, President and CEO of ASSA ABLOY. "Following a long acquisition journey we are happy to be near the end of the process. agta record brings the well-known brand “record”, a strong culture, high-quality products and a very strong workforce and management. We can now turn our focus to the many opportunities this acquisition will bring,” says Christopher Norbye, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division. Simplified tender offer Immediately after the Acquisition, ASSA ABLOY will file a proposed simplified public tender offer for the remaining outstanding shares of agta record, listed on Euronext Paris, at an adjusted price of 70.54 EUR per agta record share (the “Offer”). The Offer is subject to the AMF’s prior regulatory approval. agta record will also apply for the delisting of its shares from Euronext Paris immediately after the Acquisition. Subject to the Euronext Paris approval, the delisting will become effective shortly after the closing of the Offer. Financial effects for ASSA ABLOY The purchase price for the Acquisition amounts to approximately EUR 506 million, equivalent to an adjusted purchase price per agta record share of EUR 70.54. Assuming all the free float will be tendered to the Offer, the total amount paid for the Acquisition and the Offer amounts to approximately EUR 575 million. Based on external financial information for 2019 for both agta record and ASSA ABLOY, the acquisition of agta record adds around 4% to ASSA ABLOY’s consolidated revenue, excluding the Divestiture. The operating margin effect for ASSA ABLOY will be dilutive and the acquisition accretive to EPS from start, based on agta record´s financial performance in 2019. As part of the transaction, the existing 39% ownership in agta record held by ASSA ABLOY, a shareholding in associates, will be revalued at fair value through the income statement at closing. The expected non-cash income in EBIT amounts to around SEK 2 billion.

ASSA ABLOY has signed an agreement to acquire FocusCura, a provider of technology solutions for senior care in the Dutch market. FocusCura has developed a software platform, which in combination with other products and technology services, enables elderly care organizations to focus on care. "I am very pleased to welcome FocusCura and their employees into the ASSA ABLOY Group. FocusCura is a strategic technological addition to the ASSA ABLOY Group. The company will reinforce our current offering within Senior Care and will provide complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY. Digital solutions for care providers “FocusCura is a true innovator in digital solutions for care providers and senior people. The FocusCura offering is a good fit with our solutions in Phoniro and together we will continue to support people to stay independent for longer and live enriched lives,” says Christophe Sut, Executive Vice President and Head of Global Technologies business unit Global Solutions. FocusCura was founded in 2003 and the main office is located in Driebergen-Rijsenburg, Netherlands. The acquisition will be dilutive to EPS from start. The acquisition is expected to close during the third quarter of 2020.

ASSA ABLOY has received phase one conditional clearance by the EU Commission for ASSA ABLOY, as a 39% shareholder in the Swiss company Agta Record, to indirectly acquire the 54% shareholding in Agta Record from the shareholders of Agta finance (the “Acquisition”). Closing of the Acquisition is expected in the second half of 2020 after all remaining closing conditions and the EU Commission requirements have been fulfilled. Agta Record "Receiving the EU Commission´s approval is an important step towards completing the acquisition of Agta Record, and we look forward to welcoming the Agta Record people to our Group. This is a strategic addition to the ASSA ABLOY Group and will bring important competence, products and services to the Group,” says Nico Delvaux, President and CEO of ASSA ABLOY. During the approval process in Europe ASSA ABLOY has made commitments to address the competition concerns of the EU Commission, including entering into binding agreements for the sale of certain Agta Record and ASSA ABLOY businesses to third parties. After the Acquisition, ASSA ABLOY will own approximately 93% of the share capital and voting rights of Agta Record The commitments include the divestiture of the Agta Record operations in the Netherlands, Austria, Hungary and Slovenia as well as the ASSA ABLOY automatic pedestrian door business in France and the UK. In addition, Agta Record´s high-speed door business in France will be divested. Creating opportunities for the future It is important that the divested businesses get a committed and experienced owner that gives them a new home and creates opportunities for the future. These divestments represent about 20% of total initial added revenue. Despite these divestments, however, the majority of the identified synergies between ASSA ABLOY and Agta Record will be realized. As previously announced, after the Acquisition ASSA ABLOY will own approximately 93% of the share capital and voting rights of Agta Record and will shortly thereafter launch a public tender offer for the remaining outstanding shares of Agta Record, listed on Euronext Paris, at a price of 70 EUR per Agta Record share, subject to the fairness opinion of the independent appraiser to be appointed by Agta Record and to the AMF´s clearance decision.

ASSA ABLOY has acquired Biosite Systems, a globally renowned solutions provider of biometric access control to the UK construction industry. "I am very pleased to welcome Biosite and their employees into the ASSA ABLOY Group. Biosite is a strategic technological addition to the ASSA ABLOY Group. The company will reinforce our current offering within solutions for access control and will provide complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY. Biometric access management solutions expert “Biosite offers biometric access- and workforce management solutions to the construction sector; maximizing security and safety while providing full visibility to material-, design plans- and people flow on the construction site. Combining hardware, software and services the company is a very good fit with ASSA ABLOY Global Solutions,” says Christophe Sut, Executive Vice President and Head of Global Technologies business unit Global Solutions, ASSA ABLOY. Biosite was founded in 2010, has some 140 employees and the main office is located in Solihull, United Kingdom. Sales in 2019 amounted to about GBP 14 million (approx. SEK 175 million) and the acquisition will be dilutive to EPS from start.

HID Global, a worldwide provider of trusted identity solutions, announces Bjorn Lidefelt has been named President and CEO. Bjorn joins the company after serving as Chief Commercial Officer (CCO) at HID parent company ASSA ABLOY, where he oversaw branding, communications, commercial development and strategy. He also has extensive experience in international sales and marketing, having spent more than nine years in Asia Pacific markets including China and Malaysia. Delivering industry-leading solutions “Bjorn has had a very successful journey with our organization, and will bring a wealth of experience and perspective from various roles and markets to HID,” said Nico Delvaux, President and CEO of ASSA ABLOY. Bjorn holds a Master of Science degree in Industrial Engineering and Management from the University of Linkoping, Sweden, majoring in computer science and marketing. He succeeds Stefan Widing, who led HID Global for over four years. “I look forward to leading a dedicated and talented global workforce focused on delivering industry-leading solutions to governments, universities, hospitals, financial institutions and some of the most innovative companies on the planet to create trusted physical and digital places,” Bjorn added.

ASSA ABLOY has signed an agreement to acquire AM Group, an Australian industrial door company within entrance automation. "I am very pleased to welcome AM Group and their employees into the ASSA ABLOY Group. I welcome this complementary addition to our business, specializing in innovative entrance automation,” says Nico Delvaux, President and CEO of ASSA ABLOY. Rolling steel doors and bi-fold doors “AM Group complements both our product offering and our geographic coverage in Australia. By adding their strong product portfolio, which includes rolling steel doors and bi-fold doors, to ASSA ABLOY’s commercial network, technologies and competences, we will continue our successful journey,” says Mogens Jensen, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division. AM Group was founded in Australia in 1923 and has 425 employees. The head office is located in Sydney, Australia. Sales for 2019 are expected to reach about AUD 120 million (approx. SEK 800 million) with a good EBIT margin and the acquisition will be accretive to EPS from the start. The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the first quarter of 2020.

ASSA ABLOY has signed an agreement to acquire LUX-IDent, a renowned provider of radio frequency identification (RFID) components based in the Czech Republic. "LUX-IDent is a strategic technological addition to the ASSA ABLOY Group. The company reinforces our current offering within RFID components. The acquisition of LUX-IDent considerably enhances the Group's position within smart components and will provide complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY. Extending RFID technology “Our proven leadership in RFID technology positions HID as a premier source of components for a wide variety of RFID use cases and IoT applications. The acquisition of LUX-IDent further optimizes our portfolio with more ways to offer customization in both large and small volume projects,” says Stefan Widing, Executive Vice President and Head of HID Global. “Expanding our presence in Central and Eastern Europe with LUX-IDent will further enhance HID’s ability to serve customers locally while extending our RFID technology into emerging markets.”  Subject to regulatory approval LUX-IDent was founded in 2002 and has some 145 employees. The main office is located in Lanškroun, Czech Republic. Sales for 2019 are expected to reach about CZK 440 million (approx. SEK 180 million) and the acquisition will be neutral to EPS from start. The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the fourth quarter of 2019.

ASSA ABLOY has acquired Placard, Australia’s secure card manufacturer. "Placard is a strategic technological addition to the ASSA ABLOY Group. The company reinforces our current offering within secure cards. The acquisition of Placard considerably enhances the Group´s position in the Pacific smart card market and will provide complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY. Strength of secure cards “Placard’s large installed base of customers in the Australasia region demonstrates the continued strength of secure cards and their relevance in the lives of millions of people every day,” says Stefan Widing, Executive Vice President and Head of HID Global. “Adding Placard to the HID portfolio will expand our value-add services and enhance our capabilities for trusted identities, while striking the balance between offering a broad range of card solutions and providing customers with the choice of digital IDs.” Placard was founded in 1987 and has some 170 employees. The main office is located in Melbourne, Australia. Sales for 2019 are expected to reach about AUD 63 million (approx. SEK 420 million) with a good EBIT margin and the acquisition will be accretive to EPS from start.

ASSA ABLOY has acquired LifeSafety Power, a US supplier of smart integrated access control power solutions for OEMs, integrators and end-users. "I am very pleased to welcome LifeSafety Power into the ASSA ABLOY Group. LifeSafety Power constitutes a strategic addition to the Group and reinforces our position in access control solutions,” says Nico Delvaux, President and CEO of ASSA ABLOY. Access control portfolio "LifeSafety Power is a great complement to our access control portfolio – we are looking forward to incorporating their knowledge of power supply as well as power consumption throughout our access control portfolio," says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. LifeSafety Power was established in 2009 and has some 65 employees. The main office is located in Libertyville, Illinois. Sales for 2019 are expected to reach about USD 30 million (approx. SEK 290 million) with a good EBIT margin and the acquisition will be accretive to EPS from start.

ASSA ABLOY signed an agreement to acquire the international identity solutions business of De La Rue, a passport manufacturer based in the UK. "De La Rue´s international identity solutions business is a strategic technological addition to the ASSA ABLOY Group. The company reinforces our current offering within secure identity solutions. The acquisition of De La Rue´s identity solutions business considerably enhances the Group´s position within citizen ID and will provide complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY. Expanded range of e-government solutions expected “With complementary products, solutions and services that are highly synergistic with HID Global’s current offerings, De La Rue’s identity solutions business is an excellent strategic fit with our mission to power the trusted identities of the world’s people, places and things,” says Stefan Widing, Executive Vice President and Head of HID Global. “Customers of both organizations will benefit from the expanded range of e-government solutions that will be offered as a result of the acquisition.” The identity solutions business of De La Rue has some 200 employees, and the main office is located in Basingstoke, UK. Sales for the acquired business’ fiscal year to 30 March 2019 was about GBP 38 million (approx. SEK 460 million) and the acquisition will be neutral to EPS from start. The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the third quarter of 2019.

ASSA ABLOY acquires Spence Doors, a manufacturer of commercial doors in Australia. "I am very pleased to welcome Spence Doors and their employees into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in the mature markets through adding complementary products and solutions to our core business,” says Nico Delvaux, President and CEO of ASSA ABLOY. Door opening solutions “Spence Doors is an excellent addition to the Asia Pacific Division and complements our existing door opening solutions offering for our customers. The acquisition provides potential to accelerate our growth utilizing their comprehensive footprint around Australia”, says Anders Maltesen, Executive Vice President of ASSA ABLOY and Head of Division Asia Pacific. Spence Doors was established in 1951 and has approximately 260 employees. The main office is located in Melbourne, Australia. Sales for 2019 are expected to reach about AUD 67 million (approx. SEK 435 million) and the acquisition will be accretive to EPS from start.

ASSA ABLOY, the global provider of door opening solutions, has enjoyed another hugely successful year at IFSEC 2018, demonstrating its extensive range of technology-driven security innovations to end users in key markets. Attendees to ASSA ABLOY’s stand at IFSEC 2018 were able to discover the latest innovations from the company to help ‘access smarter thinking’. Solutions from the company’s leading brands, including ASSA ABLOY Access Control, Abloy and Traka, were on display, covering access control, identification technology, entrance automation and integrated security solutions. Those in the education sector were able to see how our Aperio wireless locking technology can help schools and universities cut energy costs Different Market-Related Products ASSA ABLOY demonstrated its expertise and experience across an extensive range of key markets at the event, including commercial, education, critical infrastructure, SMEs and multi-use, emergency services and defense. Nico Delvaux, ASSA ABLOY’s new President and CEO, also made an appearance on the stand and witnessed the company’s doorsets put to the test in the BRE’s dedicated Attack Zone, illustrating the difference between certified and non-approved products. Gareth Ellams, Access Control Managing Director said: “With a constant stream of visitors to our stand, we could not be happier with how this year’s IFSEC went. Footfall was up from previous years and we managed to speak to many end users in the key markets we offer solutions for. Cloud-Based Locking Technology “The event provided a fantastic platform to showcase our innovative, technology-driven solutions and the key markets these serve. For example, those in the education sector were able to see how our Aperio wireless locking technology can help schools and universities cut energy costs, reduce time and money spent on maintenance, and help deliver a flexible access control solution that can be adapted and updated when needed. The new mobile solution OpenowTM enables users to unlock protected doors using their smartphones via an encrypted Bluetooth connection “Meanwhile, those operating in critical infrastructure environments could see how our cloud-based, programmable locking technology can easily integrate with an organization’s telemetry systems, to help improve efficiencies and protect the nation’s infrastructure. “Meeting the specific needs of some of the most demanding environments, our exhibition stand provided a fantastic platform for us to share the very latest security solutions that can protect against even the most challenging threats.” SMARTair And OpenowTM Access Control Innovations from ASSA ABLOY Access Control at IFSEC 2018 included SMARTair, a modular and fully scalable access control system. SMARTair ensures organizations remain in control of their site – who enters, where and when – at all times, in real time. The new mobile solution OpenowTM was also presented, enabling users to unlock protected doors using their smartphones, via an encrypted Bluetooth connection. The Aperio H100 was also presented, which packs the power and flexibility of wireless access control into a slim, cleverly designed door handle. The brand’s OEM partners ACS and TDSi were also available on the stand to help demonstrate how easy Aperio is to integrate with a vast range of new and existing access control systems. Traka exhibited its latest key and asset management solutions including Traka Web, an innovative software for centrally managing Traka key and locker systemsIntegrated Lock And Key Management Abloy showcased its complete CLIQTM portfolio for critical national infrastructure applications, helping secure business resilience and continuity of service with remote access management. Its integrated locking and key management solutions include PROTEC2 CLIQTM, CLIQ Go and eCLIQ. The brand also presented Abloy OS, an intuitive map-based user interface and the ABLOY PULSE digital locking and access management system. Traka exhibited its latest key and asset management solutions. This included live demonstrations of Traka Web, an innovative software for centrally managing Traka key and locker systems. The brand also demonstrated how Traka can be integrated with different access control systems, including ARX and Lenel. The new V-Touch key management system from Traka was also on display. Capable of accommodating up to five sets of keys, the cabinet provides assured key control for critical keys at multiple locations, from a compact unit where space is at a premium.

ASSA ABLOY, the global provider of door opening solutions, announced the company is working to support mobile access capabilities for student IDs with Apple Wallet. When student ID cards are added to Wallet on iPhone with iOS 12 or Apple Watch with watch OS 5, students and faculty will have an easier and more convenient way to open doors, make payments on and around campus, and enable other student ID driven functionality on a university campus. “We are proud to work with Apple to drive this innovation,” said Nico Delvaux, President and CEO of ASSA ABLOY. “ASSA ABLOY will leverage its expertize in mobile access to support Apple’s efforts to make it easier to access dorm rooms with contactless student IDs, which we feel will help open doors to their future.” Opening Doors Using iPhones And Apple Watches This fall, with contactless student IDs, students and faculty will be able to use their iPhones and Apple Watches to open doors in buildings. ASSA ABLOY’s reader technology, combined with embedded HID technology in ASSA ABLOY locks, will be part of a broader technology solution that unlocks the possibilities for mobile student IDs on university campuses. As the global market leader in mobile access technology, ASSA ABLOY has a proven track record of success delivering mobile access readers and credentials worldwide, providing customized solutions that meet evolving user requirements.