ASSA ABLOY acquires Janam Technologies in the US
ASSA ABLOY has acquired Janam Technologies, a US-based provider of handheld mobile computers and readers, enhancing its event access portfolio with advanced scanning technology.
Rhea-AI Summary
ASSA ABLOY has acquired Janam Technologies, a US-based provider of handheld mobile computers and readers, enhancing its event access portfolio with advanced scanning technology. The acquisition, announced on December 27, 2022, is expected to contribute to earnings per share (EPS) immediately. Janam reported sales of approximately MUSD 21 in 2021 and operates within HID's Identification Technologies Business Area. This strategic move aims to leverage Janam's technology to improve the event experience for users worldwide.
Positive
- Acquisition provides immediate EPS accretion.
- Enhances event access portfolio with mobile reading technology.
- Sales of Janam were approximately MUSD 21 in 2021, indicating strong revenue potential.
Negative
- None.
Details
News Market Reaction – ASAZY
In the trading session that priced this news, ASAZY gained 0.96%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
STOCKHOLM, Dec. 27, 2022 /PRNewswire/ -- ASSA ABLOY has acquired Janam, a leading provider of handheld mobile computers and readers, based in the US. This acquisition enhances HID's event access portfolio to now also include handheld readers for scanning tickets using barcode and RFID technology, including NFC.
"I am very pleased to welcome Janam into the ASSA ABLOY Group. Janam 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.
"We welcome Janam to the HID family and look forward to leveraging their mobile reader technology to improve the event experience for millions of spectators around the world," says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global.
Janam was founded in 2006 and has some 20 employees. Based in New York, it will be part of HID's Identification Technologies Business Area.
Sales in 2021 amounted to about MUSD 21 (approx. MSEK 200) with a good EBIT margin and 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
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
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 51,000 employees and sales of SEK 95 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.
The following files are available for download:
Press release (PDF) | |
https://news.cision.com/assa-abloy/i/gt1-kiosk-scanning-1,c3129581 | GT1 Kiosk Scanning 1 |
Janam 2 | |
Janam 3 |
View original content:https://www.prnewswire.com/news-releases/assa-abloy-acquires-janam-technologies-in-the-us-301710170.html
SOURCE ASSA ABLOY