ASSA ABLOY Expands Hospitality Portfolio with Acquisition of Nomadix and Global Reach

ASSA ABLOY Expands Hospitality Portfolio with Acquisition of Nomadix and Global Reach

(IN BRIEF) ASSA ABLOY, a global leader in access solutions, has announced its agreement to acquire Nomadix and Global Reach, prominent providers of Wi-Fi access and engagement platform solutions for the hospitality and commercial real estate sectors in the US and UK. This strategic acquisition enhances ASSA ABLOY’s existing offering within the hospitality industry by integrating Nomadix and Global Reach’s comprehensive tech platform, comprising hardware, software, and analytics tools, designed to securely connect and engage with customers and devices via Wi-Fi networks. President and CEO of ASSA ABLOY, Nico Delvaux, expresses enthusiasm about the acquisition, highlighting its potential for reinforcing the company’s position in the hospitality market and creating complementary growth opportunities. Stephanie Ordan, Executive Vice President and Head of Global Technologies business unit Global Solutions, anticipates leveraging Nomadix and Global Reach’s technical expertise to expand the portfolio and end-to-end offering for the hospitality business and related verticals. With sales reaching approximately MUSD 30 in 2023 and a strong EBIT margin, the acquisition is expected to be accretive to EPS from the outset, subject to customary closing conditions and slated for completion in the second quarter of 2024.

(PRESS RELEASE) STOCKHOLM, 27-Mar-2024 — /EuropaWire/ — ASSA ABLOY has signed an agreement to acquire Nomadix and Global Reach, leading US and UK based providers of Wi-Fi access and engagement platform solutions for the hospitality and commercial real estate industry. The companies offer a comprehensive tech platform of hardware, software and analytics tools to securely connect and engage with customers and devices via Wi-Fi networks.

“I am very pleased to welcome Nomadix and Global Reach into the ASSA ABLOY Group. This acquisition is an exciting technological addition to the ASSA ABLOY Group and will reinforce our current offering within the hospitality business, and provide complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY.

“Nomadix and Global Reach are excellent additions to Global Solutions and will with their strong technical expertise expand our portfolio and end-to-end offering for our hospitality business and adjacent verticals. I look forward to working with the experienced teams to continue the successful journey,” says Stephanie Ordan, Executive Vice President and Head of Global Technologies business unit Global Solutions.

Nomadix and Global Reach were founded in 1998 and have some 120 employees. The main offices are located in Los Angeles and London. Nomadix and Global Reach operate as two separate entities under a central top management and ownership, and will be part of Global Solutions business area Hospitality.

Sales for 2023 amounted to about MUSD 30 (approx. MSEK 300) 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 second quarter of 2024.

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 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.

Media Contacts:

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
e-mail: bjorn.tibell@assaabloy.com

SOURCE: ASSA ABLOY