STOCKHOLM, 27-Sep-2018 — /EuropaWire/ — ASSA ABLOY has acquired Crossmatch, a leader in biometric identity management and secure authentication solutions.
“Crossmatch is a strategic technological addition to the ASSA ABLOY Group. The company reinforces our current offering within biometric identity management. The acquisition of Crossmatch considerably enhances the Group´s position as one of the world’s leading biometric companies and will provide complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY.
“Our acquisition of Crossmatch strengthens HID Global’s ability to offer innovative biometric identity solutions to hundreds of millions of users worldwide,” says Stefan Widing, Executive Vice President and Head of HID Global. “Adding Crossmatch to our company will extend HID’s market leadership in the trusted identity space and allow us to fulfill the promise of biometrics in critical identity applications.”
Crossmatch was founded in 1996. It is headquartered in Palm Beach Gardens, Florida and has some 270 employees.
Sales for 2018 are expected to reach USD 125 million (approx. SEK 1,150 million) with a good EBIT margin. The acquisition will be accretive to EPS from start.
For more information, please contact:
Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
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 47,500 employees, operations in more than 70 countries and sales of SEK 76 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.
SOURCE: ASSA ABLOY