ASSA ABLOY ‘key’ SKIDATA acquisition

Article posted by Coliseum, August 2^nd, 2024

Image: Assa Abloy

The Kudelski Group, the world leader in digital security, announced recently that it has signed a definitive agreement to sell its SKIDATA business to the access solutions company ASSA ABLOY.

‘NAGRA KUDELSKI GROUP’ stated that under the Group’s leadership over the past 23 years, SKIDATA has evolved into a global provider of innovative solutions for Parking and Mobility and Sports and Entertainment with revenues increasing from approximately EUR 95 million in 2002 to EUR 305 million in 2023.

The Kudelski Group is a world leader in digital business enablement technologies that are built to enable innovation and deliver trust. The four main business divisions of the Group cover end-to-end convergent media solutions to the digital entertainment industry, cybersecurity services for the enterprise and the Government bodies, public access solutions and end-to-end Internet of Things (IoT) design solutions, and full-lifecycle services.

The Kudelski Group is headquartered in Cheseaux-sur-Lausanne, Switzerland, and Phoenix, Arizona, US, with offices in 32 countries around the world.

Grödig bei Salzburg (Austria)-based the SKIDATA GmbH is an Austrian company which has installed more than 10,000 access systems for people and vehicles in various sectors. These include Airports, Car Parks, Cities, Operators, Shopping Malls, Office Buildings, Educational Buildings, Hospitals, Mountain Destinations, Hotels, and Stadiums and Arenas. The parent organization is the Kudelski Group.

Stockholm (Sweden)-based the ASSA ABLOY AB is a Swedish Group whose offerings include products and services related to locks, doors, gates, and entrance automation. The related products and services include controlling access and confirming identities with keys, cards, tags, mobile, and biometric identity verification systems.

Put in André Kudelski, Chairman-cum-head honcho of the Kudelski Group, “We are proud of and grateful for what SKIDATA has accomplished since joining the Group in 2001. This transaction is part of our overarching strategy to streamline the Group’s focus on digital security technologies and solutions for the Media, the Internet of Things (IoTs) and the Cybersecurity markets. We thank the SKIDATA teams for their hard work and many accomplishments and wish them well as part of ASSA ABLOY.”

Noted Nico Delvaux, President-cum-Chief Executive Officer (CEO) of ASSA ABLOY, “I am very pleased to welcome the SKIDATA team into the ASSA ABLOY Group. This acquisition delivers on our strategy to grow our business in the mature markets through adding complementary products and solutions to our core business.”

‘NAGRA KUDELSKI GROUP’ further stated that the transaction is subject to the regulatory approval and customary closing conditions and is expected to close during the third quarter of 2024. The financial terms of the deal reflect an enterprise value for SKIDATA of EUR 340 million.

The New York (US)-based investment banking company Goldman Sachs is acting as the exclusive Financial Advisor and the American-British law firm Hogan Lovells International LLP is acting as the Legal Advisor to the Kudelski Group.

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