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ASSA ABLOY AB (ASAZY) reports developments tied to its global access solutions business, including efficient door openings, trusted identities, entrance automation and secure access to physical and digital places. Company news commonly covers quarterly operating and financial results, organic and acquired growth by division, currency effects, cash flow and segment trends across Americas, EMEIA, Asia Pacific, Global Technologies and Entrance Systems.
Recurring updates also include acquisitions that add products or technologies in physical security lifecycle management, perimeter security, remote care, secure issuance and document personalization. Governance news includes annual general meeting resolutions, dividends, board composition, auditor appointments and remuneration matters.
ASSA ABLOY AB has announced the members of its Nomination Committee for the Annual General Meeting 2021, set for April 28, 2021, in Stockholm, Sweden. The committee will be chaired by Carl Douglas from Investment AB Latour, alongside representatives from major shareholders including Mikael Ekdahl, Marianne Nilsson, Liselott Ledin, and Yvonne Sörberg. The committee is tasked with preparing proposals for the election of board members and setting fees. Shareholders can submit proposals via email to the nomination committee.
ASSA ABLOY has acquired Olimpia Hardware, a prominent glass hardware brand in Latin America and the Caribbean. This acquisition marks a strategic move to enhance ASSA ABLOY's market presence in emerging markets. Olimpia reported sales of approximately 13 MUSD in 2019, with a solid EBIT margin. The transaction is expected to be accretive to EPS from the outset. This integration aligns with the growing demand for glass and aluminum products in the region, further solidifying ASSA ABLOY's market leadership.
ASSA ABLOY has launched a simplified public tender offer for the remaining 5.37% of shares of agta record at a price of 70.58 EUR per share. The offer, approved by the French Financial Market Authority, will be open from September 17 to September 30, 2020, and will be followed by the delisting of agta record shares from Euronext Paris. The board of agta record recommends shareholders to accept the offer. ASSA ABLOY plans a merger of agta record into its Swiss subsidiary within 9 to 18 months post-offer completion.
ASSA ABLOY has announced the sale of its Swiss sensor technology business, CEDES, to capiton AG. Established in 1986, CEDES specializes in sensor solutions for the elevator and door industry, employing approximately 320 people and generating 51 MEUR in sales for 2019. The deal is seen as a strategic move, allowing ASSA ABLOY to concentrate on its automated door business while providing CEDES with the opportunity for growth under capiton AG. The transaction, which is expected to close in Q4 2020, will have a neutral effect on ASSA ABLOY's operating margins.
ASSA ABLOY has finalized the sale of specific businesses to Italy-based FAAC Group as part of the EU commitments related to the agta record acquisition. This divestiture includes operations in the Netherlands, Austria, Hungary, Slovenia, France, and the UK, with a 2019 turnover of approximately MEUR 93. The transaction, valued at MEUR 100 on a cash and debt-free basis, will de-consolidate from ASSA ABLOY as of August 31, 2020. The divestiture represents about 20% of the initially added revenue from the acquisition, highlighting its strategic importance in addressing competition concerns.
ASSA ABLOY has filed a simplified public tender offer to acquire the remaining shares of agta record at EUR 70.58 per share. This follows ASSA ABLOY's recent purchase of a 54% shareholding, raising its ownership to approximately 93%. The offer is contingent upon regulatory approval by the French Financial Markets Authority (AMF) and aims to delist agta record from Euronext Paris. Shareholders will have a six-month period to sell shares post-delisting. ASSA ABLOY plans to merge agta record into a Swiss subsidiary within 9 to 18 months following the offer's closure.
ASSA ABLOY has completed the acquisition of a 54% stake in agta record, increasing its ownership to approximately 93%. The total purchase price amounts to MEUR 506, translating to an adjusted price of EUR 70.58 per share. Following the acquisition, ASSA ABLOY plans to file a public tender offer for the remaining shares at the same price, pending regulatory approval. agta record will apply for delisting from Euronext Paris after this acquisition, effective after the closing of the offer on August 31, 2020.
On August 17, 2020, ASSA ABLOY announced its acquisition of Access-IS, a specialist in electronic RFID, NFC, and barcode devices for document authentication and payments. This strategic move aims to complement ASSA ABLOY's extended access technologies and is expected to enhance growth opportunities within its Identification Technologies division. Access-IS, founded in 1985, recorded sales of approximately MGBP 19 (MSEK 220) in 2019. The acquisition is projected to be neutral to earnings per share from the start.
ASSA ABLOY announced that the EU Commission has cleared its acquisition of a 54% stake in agta record for approximately EUR 506 million, with a share price of EUR 70.54. This will increase ASSA ABLOY's ownership to about 93% of agta record. The acquisition is expected to enhance ASSA ABLOY's consolidated revenue by 4% and is expected to close in August 2020. Following the acquisition, ASSA ABLOY will make a simplified tender offer for remaining shares and agta record will apply for delisting from Euronext Paris.