ASSA ABLOY acquires Technology Solutions in the UK
ASSA ABLOY has acquired Technology Solutions (TSL), a leading UK provider of RFID handheld readers.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
ASSA ABLOY has acquired Technology Solutions (TSL), a leading UK provider of RFID handheld readers. This strategic acquisition strengthens ASSA ABLOY's RFID portfolio and enhances growth opportunities. TSL, established in 1994, reported sales of approximately MGBP 3 (around MSEK 30) in 2020 with a strong EBIT margin. The acquisition is expected to be accretive to earnings per share (EPS) from the outset, providing synergies and expanding market reach within identification technologies.
Positive
- Acquisition of TSL strengthens ASSA ABLOY's RFID product offering.
- TSL's 2020 sales were approximately MGBP 3 with strong EBIT margin.
- Acquisition expected to be accretive to EPS from the start.
Negative
- None.
Details
News Market Reaction – ASAZY
The recorded move for ASAZY in the trading session of this news was +3.32%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
STOCKHOLM, Feb. 8, 2021 /PRNewswire/ -- ASSA ABLOY has acquired Technology Solutions (TSL) in the UK, a global provider of radio frequency identification (RFID) handheld readers. TSL designs, develops and manufactures ruggedized mobile RFID readers and other multi-technology, mobile device peripherals used to identify and track products and assets.
"I am very pleased to welcome TSL into the ASSA ABLOY Group. TSL 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.
"The acquisition of TSL expands HID's broad RFID portfolio with proven hardware and integration tools that extend our leadership in identification technologies," says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global.
TSL was founded in 1994 and has some 25 employees. The main office is located in Loughborough, UK.
Sales in 2020 amounted to about MGBP 3 (approx. MSEK 30) 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
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 48,000 employees and sales of SEK 88 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.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/assa-abloy/r/assa-abloy-acquires-technology-solutions-in-the-uk,c3281787
The following files are available for download:
Press release (PDF) | |
https://news.cision.com/assa-abloy/i/tsl-bluetooth-rfid-reader,c2875085 | TSL Bluetooth RFID reader |
View original content:http://www.prnewswire.com/news-releases/assa-abloy-acquires-technology-solutions-in-the-uk-301223741.html
SOURCE ASSA ABLOY
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.