ASSA ABLOY Expands Physical Access Control Solutions with Acquisition of 3millID and Third Millennium Systems

ASSA ABLOY Expands Physical Access Control Solutions with Acquisition of 3millID and Third Millennium Systems

(IN BRIEF) ASSA ABLOY has announced its acquisition of 3millID Corporation and Third Millennium Systems Ltd, both specializing in physical access control solutions. These acquisitions will expand ASSA ABLOY’s offerings and support growth opportunities, particularly outside the United States. 3millID, based in Colorado, provides proprietary access control technology for enterprise customers in North America, while Third Millennium, based in Wales, serves enterprise and government clients across the UK and Europe. With a combined 2023 sales of USD 21 million, the acquisition is expected to enhance ASSA ABLOY’s Physical Access Control Solutions division and be accretive to EPS from day one. The transaction is expected to close in Q1 2025.

(PRESS RELEASE) STOCKHOLM, 8-Jan-2025 — /EuropaWire/ —  Assa Abloy AB (STO: ASSA-B), leader in locks, doors, gates, and entrance automation, announces that it has entered into an agreement to acquire 3millID Corporation and Third Millennium Systems Ltd, two companies specializing in readers and credentials for physical access control based in the US and UK, respectively. This strategic move will enhance ASSA ABLOY’s portfolio of physical access solutions and unlock new growth opportunities.

“We are thrilled to welcome 3millID and Third Millennium into the ASSA ABLOY family,” said Nico Delvaux, President and CEO of ASSA ABLOY. “These acquisitions introduce exciting technological advancements that will strengthen our current offerings in physical access control and create complementary avenues for future growth.”

Björn Lidefelt, EVP and Head of HID, also highlighted the significance of the acquisitions. “Bringing 3millID and Third Millennium into HID exemplifies our ongoing commitment to investing in key physical access control technologies,” Lidefelt remarked. “These additions expand our ability to provide greater customer choice and relevance within our portfolio, while also boosting our presence outside the United States.”

Founded in 2015 and based in Highlands Ranch, Colorado, 3millID is a leader in providing proprietary access control readers and technology-driven solutions for enterprise customers across North America. Third Millennium, established in 1996 and headquartered in Wales, UK, specializes in delivering access control solutions and software to both enterprise and government clients throughout the UK and Europe, backed by significant in-house technological expertise.

The two companies have maintained a commercial partnership since 2015, collaborating on technology development and sales. With a combined workforce of approximately 40 employees, the companies will join HID’s Physical Access Control Solutions Business Area.

For the year 2023, the two companies reported combined sales of around USD 21 million (approximately SEK 220 million) with a strong EBIT margin. The acquisition is expected to be accretive to earnings per share (EPS) from day one.

The transaction is subject to customary closing conditions and is anticipated to be finalized in the first quarter of 2025.

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

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.

SOURCE: ASSA ABLOY