ASSA ABLOY Acquires Biosite in the UK

STOCKHOLM, Feb. 10, 2020 /PRNewswire/ -- ASSA ABLOY has acquired Biosite, a leading 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.

"Biosite offers biometric access - and workforce management solutions to the construction sector; maximizing security and safety whilst 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.

Biosite was founded in 2010, has some 140 employees and the main office is located in Solihull, UK.

Sales in 2019 amounted to about GBP 14 million (approx. SEK 175 million) and the acquisition will be dilutive to EPS from start.

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 49,000 employees and sales of SEK 94 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

For more information, please contact:

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

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SOURCE ASSA ABLOY